Silicon Exporters Cease Operation for Chinese National Day Holiday

The silicon metals prices skyrocketed in September and started to fall after the National Day holiday in October. The prices of oxygen-free 553# silicon basically lost all the gains in September, and the prices of high-grade silicon was relatively firm.

This is a roundup of China's metals weekly inventory as of October 15.

The silicon metal prices surged broadly by over 120% in September from the previous month, with 553# silicon with oxygen leading the gains. As of September 30, 553# silicon with oxygen in east China stood at 59,000 yuan/mt, up 154% on the month. The short supply of spot amid extensive power rationing in Yunnan and Sichuan was the main reason for the short-term surge of prices. While the production costs also increased on the back of rising prices of raw materials such as clean coal, supporting the silicon metal prices as well.

Traders and downstream consumers in China’s silicon market held back from buying in May in anticipation of growing supply.

Offers of chemical-grade silicon dipped on Thursday May 17 as transactions were few

While LME aluminium surged nearly 30% on the US sanctions on Rusal from April 6, prices of alumina also soared with further upward room due to tight supplies and rising export margins

China exported 5.65 million mt of finished steel in March, up from 4.85 million mt in February, according to China Customs.

The decline in nickel ore shipments to China from the Philippines was mainly due to bad weather in Tawi-Tawi while the impact of environmental protection issues in Zambales was rather small.

China’s lowered export tax on stainless steel will not drive dramatic increase in exports in 2018, SMM believes.

China is going to adjust some import and export tariff from January 1,2018, after adjusted tariff of some consumer goods from December 1,2017.