Silicon social inventories shrank on reduced export trades

SHANGHAI, Mar 27 (SMM) – Inventories of silicon metal across Huangpu port, Kunming city and Tianjin port declined 2,000 mt from a week ago to 54,000 mt as of Friday March 27, showed SMM data.

The COVID-19 driven shutdown of downstream producers overseas and sharp declines in domestic silicon prices depressed export trades this week. In addition, some of the deliveries under the standing contracts were disrupted as most export destinations have closed their ports to contain the virus outbreak. These saw the volumes of silicon cargoes flowing in and out of warehouses at Huangpu and Tianjin ports significantly lower this week.