Silicon Metal Prices Remain Weakly Stable, Few New Orders Concluded by Month-End [SMM Weekly Review]

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SMM, December 26: This week, spot silicon metal prices remained weak but stable. As of December 26, above-standard #553 silicon metal in east China was priced at 11,300-11,400 yuan/mt, #441 silicon metal at 11,600-11,800 yuan/mt, and #3303 silicon metal at 12,200-12,400 yuan/mt. In the futures market, on December 26, the Si2502 contract hit a low of 11,180 yuan/mt and closed at 11,195 yuan/mt, with futures prices fluctuating at low levels throughout the week. Downstream purchasing sentiment was not active during the week, and transactions in the silicon metal market were sluggish. Some silicon enterprises, affected by poor sales and low silicon prices, reported plans for maintenance in the near term.

Polysilicon producers maintained stable operations, with production at many top-tier enterprises already at a minimum. In January, some polysilicon enterprises are expected to implement minor production cuts, and demand for silicon metal in January 2025 is likely to remain weak. In the silicone sector, monomer production slightly declined during the week, with central China monomer producers reducing their operating loads recently. Silicone DMC prices rose slightly during the week, but purchasing of silicon metal remained cautious. In the aluminum alloy sector, operating rates were basically stable. Aluminum prices fluctuated rangebound this week, with secondary aluminum alloy prices rising quickly but lagging in declines. Recent purchases of silicon metal in this sector continued to follow a purchasing-as-needed approach.

Year-end downstream demand for silicon metal remained insufficient. Although silicon enterprises kept their quotations unchanged, new orders were scarce, and most previous spot and futures orders had already been delivered. As a result, year-end inventory pressure on producers gradually increased. Some silicon enterprises in south-west China that had suspended production recently also halted quotations and shipments. The price negotiation between sellers and buyers continued.

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