China monthly export of magnesium products in March 2024

In January, the silicon metal market experienced a relatively loose supply-demand balance, with a theoretical inventory buildup of approximately 30,000 mt. In February, both supply and demand contracted simultaneously, and the market is expected to show a tight balance or minor destocking. The current high industry inventory still requires time to be digested, and the sustainability of destocking remains a key variable affecting price trends and market sentiment.

SMM, February 6 - According to SMM’s investigation of market information, a large smelter in northern China began public bidding for a certain quantity of indium ingots and bismuth ingots starting yesterday. Market sources indicate that the starting price for these indium ingots exceeds 4,000 yuan per kilogram, while the starting price for bismuth ingots is above 150,000 yuan per ton. The bidding results are expected to be announced before the Spring Festival. Market participants note that, given the clear trend of sluggish trading activity ahead of the Spring Festival, the timing of this bidding is not ideal. However, the relatively favorable starting prices have generated considerable market anticipation for the outcome of the bidding.