Year-End Market Demand Remains Weak, Prices of Raw Materials for Silicon Metal Stay Stable [SMM Weekly Review]

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SMM, December 26: As the year-end approaches, silicon metal producers have seen weak new order transactions recently due to the continued weakness in silicon prices, with many signing orders at a loss. A small number of operating silicon enterprises are planning maintenance, and production enthusiasm remains low. Coupled with the overall low operating rate of the industry, producers' procurement demand for raw materials across all segments of silicon metal is also very sluggish.

Silica: At the year-end, silicon metal producers maintain relatively low operating rates, leading to limited overall demand for silica raw materials. Most silicon enterprises in north China have largely completed their winter silica inventory stocking. Additionally, a small number of silicon enterprises are planning maintenance before the Chinese New Year, with expectations of further declines in operating rates. The silica market prices remain largely stable. Currently, the mine-mouth price of low-grade silica in Yunnan is 340-350 yuan/mt. The mine-mouth price of high-grade silica in Inner Mongolia is 360-390 yuan/mt. The mine-mouth price of high-grade silica in Hubei is 420-450 yuan/mt. The mine-mouth price of high-grade silica in Jiangxi is 440-460 yuan/mt.

Silicon Coal: Silicon coal prices remained largely stable this week. Year-end demand for silicon coal remains weak, as downstream silicon enterprises have mostly completed their pre-holiday silicon coal raw material stocking. Recent market demand for silicon coal is relatively sluggish, with procurement demand expected to recover in February-March next year. For now, prices across various silicon coal production regions remain stable. Currently, the ex-factory price of silicon coal (granular) in Ningxia is 1,420-1,530 yuan/mt, while the ex-factory price of silicon coal (mixed) in Ningxia is 1,260-1,280 yuan/mt. The ex-factory price of silicon coal in Xinjiang is 2,100-2,150 yuan/mt, and in Shaanxi, it is 940-960 yuan/mt.

Electrodes: Electrode prices remained largely stable this week. Demand for electrodes used in silicon production remains weak. However, the cost of calcined petroleum coke has shown a slight rebound recently, providing some cost support. Under these conditions, the overall price of electrodes used in silicon production remains largely stable. If cost prices continue to recover, coupled with increased restocking demand for raw materials by downstream silicon enterprises in Q1 next year, there may be expectations of price increases. Currently, the ex-factory price of ordinary power carbon electrodes (diameter 960-1,100mm) is 7,400-7,800 yuan/mt. The ex-factory price of ordinary power graphite electrodes (diameter 960-1,100mm) is 11,000-12,000 yuan/mt. The ex-factory price of ordinary power graphite electrodes (diameter 1,272mm) is 12,000-13,000 yuan/mt. The ex-factory price of ordinary power graphite electrodes (diameter 1,320mm) is 13,000-14,000 yuan/mt.

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