Silicon prices lack upward momentum

SMM, Oct 12: After the National Day, silicon metal companies and traders tentatively raised prices compared to before the holiday. This was influenced by macro sentiment and expected production cuts in the southwest during the dry season. Some companies were fulfilling new orders, or had low inventory pressure for spot orders. As of October 10, east China above-standard #553 silicon metal was 11,700-11,900 yuan/mt, up 100 yuan/mt from before the holiday. 441# silicon was 11,900-12,100 yuan/mt, up 100 yuan/mt. 421# silicon (for silicone) was 12,600-12,800 yuan/mt, unchanged. 3303# silicon was 12,600-12,800 yuan/mt, up 50 yuan/mt. Most inquiries and transactions were from traders and a few downstream users restocking as needed. Overall trading volume was limited, but due to firm offers from suppliers, the trading center did rise.
Supply side, silicon companies' operating rates were also stable. After price increases, downstream buying sentiment was not active, with only a few traders considering stockpiling. On October 10, the SI2411 contract fluctuated downward to around 9,540 yuan/mt. Market sentiment was mostly cautious, and October demand showed no significant increase compared to September. Silicon prices lack upward momentum and are not expected to rise continuously, likely remaining rangebound in the short term.