Silicon Metal Back in Stalemate After Breakdown Rebound, Market Trading Cools [SMM Silicon Industry Weekly Review]
[Silicon Metal Rebounds After Breakdown Then Stagnates Again; Market Trading Heat Cools]: This week, the most-traded silicon metal futures contract price returned to around 8,450 yuan/mt and moved sideways, with a narrowed fluctuation range. During the week, overall market open interest continued to decline. The most-traded 09 contract’s open interest fell 53,000 lots from last Friday, and the weighted open interest of all contracts fell 54,000 lots from last Friday. Market trading sentiment cooled, and wait-and-see sentiment among funds increased. Spot prices as of July 16: SMM east China oxygen-blown #553 silicon stood at 9,100-9,200 yuan/mt (up 150 yuan/mt WoW), #441 silicon at 9,200-9,300 yuan/mt (up 50 yuan/mt WoW), and #421 silicon at 9,300-9,400 yuan/mt (flat WoW). During the week, silicon enterprises’ offers mostly remained stable. After active procurement transactions last week by traders and some downstream players, market trading heat declined this week. Silicon metal buying and selling were in a stalemate, and prices shifted to consolidation.