Silicon metal prices extended losses on thinned overseas orders

SHANGHAI, Mar 18 (SMM) – Prices of some low-grade specifications of silicon metal extended their declines on Wednesday March 18 as sluggish orders from overseas consumers and delayed delivery dampened sentiment of traders. Trades in the domestic market were also muted. 

Domestic downstream companies were on the sidelines and tended to deplete their in-plant stocks instead of replenishing inventories in light of their low operating rates and potential further declines in silicon prices.

SMM assessments showed that traded prices of oxidised 553# silicon in east China fell to as low as 11,800 yuan/mt as of March 18, down 200 yuan/mt from the previous day and down 400 yuan/mt from a week earlier. Its spread with prices of non-oxidised 553# silicon, which stood at 11,400-11,500 yuan/mt as of March 18, has narrowed to around 400 yuan/mt.