Industrial silicon prices weakened on both the futures and spot markets [SMM Silicon Prices Daily Review]

Today, the price of industrial silicon in East China slightly weakened. Prices of standard #553 were at 12,500-12,600 yuan/mt, with the average price down by 100 yuan/mt. Above-standard #553 were at 12,900-13,100 yuan/mt, with the average price down by 50 yuan/mt. #521 were at 13,100-13,200 yuan/mt, with the average price down by 100 yuan/mt. Yesterday, the price of the most-traded 2409 industrial silicon contract dropped significantly by about 500 yuan/mt. Today, the market continued its weak downward trend, and industrial silicon transactions remained sluggish. The main producers of low-grade silicon continued to lower their quotes today, with many silicon companies reporting weak downstream demand and difficulty in securing orders. Some traders released low-price supplies, and the spot price of #421 silicon also began to loosen today. The industrial silicon market prices were chaotic today.