This week, spot prices of silicon metal remained stable. As of October 17, the mainstream transaction prices of standard #553 silicon metal in east China were 11,400-11,600 yuan/mt, flat WoW. The mainstream transaction prices of above-standard #553 silicon metal were 11,700-11,900 yuan/mt, flat WoW. The mainstream transaction prices of 441# silicon metal were 11,900-12,100 yuan/mt, flat WoW. The mainstream transaction prices of 3303# silicon metal were 12,600-12,800 yuan/mt, flat WoW. New orders in the silicon metal market were limited this week, with light trading. Supply-side quotes remained firm, and SI2411 contract fluctuated around 9,600-9,700 yuan/mt. Based on a premium of 2,200 yuan/mt, the warehouse warrant self-pickup prices in east China were 11,800-11,900 yuan/mt, with few low-priced sources in the market. Orders for silicon metal (Si≥97%) in October were mostly full, with ex-factory self-pickup prices for 1503 specifications at 10,600 yuan/mt. Due to the reduction in PV wafer production, the raw material silicon mud costs for medium-frequency furnace enterprises increased, with ex-factory self-pickup prices for recycled silicon mostly concentrated at 12,200-12,300 yuan/mt or higher (roughly calculated full cost at 12,400-12,500 yuan/mt).
The sentiment in the silicon metal market has entered a new phase of contention. With rising costs during the dry season and the conversion of new standards in December, the supply side has a strong sentiment to stand firm on quotes. From the supply-demand relationship, the supply side is expected to maintain an inventory buildup in October, with weak fundamentals, and prices are expected to remain stable in the near term.
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