Eased pessimism on silicon prices improves trades

SHANGHAI, Jul 23 (SMM) – Spot silicon trades at ports picked up on Tuesday July 23 as bearish sentiment across exporters eased and the delivery for long-term contracts approached. 

Traders started to stockpile when silicon prices were close to bottoming out, given heavy losses at silicon producers. Procurement for the delivery of long-term contracts accounted for most transactions.

SMM assessed prices of oxidised #553 silicon at 10,400-10,600 yuan/mt on Tuesday July 23 in the east, down 50 yuan/mt from Monday July 22, with prices of non-oxidised #553 silicon holding flat over the past week at 10,000-10,100 yuan/mt as of July 23.