SMM January 15 News:
Silica
Price: Silica prices remained stable. Before the Chinese New Year, downstream silicon companies showed sluggish interest in restocking silica raw materials. Some mines have gradually suspended mining and shipments recently, and a significant recovery in overall procurement demand is expected around March. Currently, the mine-mouth price of high-grade silica in Jiangxi is 440-460 yuan/mt, in Inner Mongolia is 360-390 yuan/mt, and in Hubei is 420-450 yuan/mt.
Production: Recent silica orders and shipments have been limited, with downstream silicon companies showing low procurement interest before the Chinese New Year. Due to the establishment of new mines and the increase in supporting mines for silicon companies in 2024, the overall production supply side remains relatively loose.
Inventory: Downstream silicon companies showed limited restocking demand for silica raw materials before the Chinese New Year, primarily consuming existing inventory.
Silicon Metal
Price: Silicon metal futures prices rose for two consecutive days, while the spot market sentiment remained flat. In east China, the price of above-standard #553 silicon metal was around 10,800-10,900 yuan/mt. Downstream users were nearing the end of stockpiling, and spot transactions were sluggish, with spot silicon metal prices remaining weak.
Production:
Based on the supply-demand balance calculation, the silicon supply surplus in December was approximately 20,000 mt. In January, silicon metal supply and demand are expected to remain weak on both sides, with a basic balance anticipated. A few small and medium-sized silicon companies in northern regions may plan production cuts and maintenance after the Chinese New Year. Meanwhile, new capacity is gradually entering the market. Changes in the operating rate of small and medium-sized silicon companies on the supply side before and after the Chinese New Year should be monitored.
Inventory:
Social Inventory: According to SMM statistics, as of January 10, the national social inventory of silicon metal totaled 536,000 mt, down 3,000 mt WoW. Among them, general social warehouses held 152,000 mt, down 5,000 mt WoW, while social delivery warehouses held 384,000 mt (including unregistered warehouse warrants and spot cargo), up 2,000 mt WoW.
Silicone
Price:
DMC: Current prices are 12,800-13,500 yuan/mt, with the market's transaction center shifting downward this week, dominated by low-price transactions.
D4: Current prices are 12,800-14,100 yuan/mt, with market prices remaining stable this week.
107 Silicone Rubber: Current prices are 12,800-13,500 yuan/mt, with market prices remaining stable this week.
Raw Silicone Rubber: Current prices are 13,800-14,200 yuan/mt, with market prices remaining stable this week.
Silicone Oil: Current prices are 14,000-15,800 yuan/mt, with market prices remaining stable this week.
Production:
This week, domestic monomer companies maintained high operating rates. Some production lines in east China saw slight reductions, but overall operating rates remained above 75%.
Inventory:
As logistics operations are about to halt for the Chinese New Year, most downstream companies plan to suspend production and take holidays, leading to a significant reduction in procurement volumes and an increase in monomer companies' inventories.
Polysilicon
Price:
Yesterday, the mainstream transaction price of N-type re-feeding polysilicon was 39-45 yuan/kg. This week, polysilicon prices gradually stabilized, with some actual transactions occurring, showing an increase compared to the previous round of concentrated order signing.
Production:
January supply is expected to see slight production cuts, with a limited overall reduction of approximately 3,000 mt MoM. January production is estimated at around 94,000 mt.
Inventory:
Inventory showed slight fluctuations after order signing, without significant increases. However, the market remains slightly pessimistic about future trading volumes, posing a risk of inventory accumulation.
Silicon Wafer
Price:
The market price for N-type 18X silicon wafers is 1.18-1.18 yuan/piece, and for N-type 210RN silicon wafers is 1.3-1.35 yuan/piece. This week, N-type silicon wafer prices saw a general increase, mainly due to the disappearance of low-priced order deliveries.
Production:
January silicon wafer production schedules exceeded previous expectations, as integrated companies increased production following the rise in silicon wafer prices.
Inventory:
Current inventory continues to decline slightly. However, as order volumes gradually decrease, the rate of inventory reduction has slowed.
High-Purity Quartz Sand
Price:
This week, high-purity quartz sand prices remained stable. Domestic inner-layer sand prices were 60,000-75,000 yuan/mt, middle-layer sand prices were 35,000-45,000 yuan/mt, and outer-layer sand prices were 19,000-25,000 yuan/mt. There were no domestic transactions this week. For imported sand, traders showed slightly better purchasing volumes. However, with the Chinese New Year approaching, subsequent transaction volumes are expected to decline rapidly.
Production:
This week, industry operating rates remained stable compared to last week. Some sand companies are expected to begin suspending production and taking holidays next week, leading to a potential decline in operating rates.
Inventory:
High-purity quartz sand inventory continues to increase slightly, with downstream companies planning to restock after the Chinese New Year.
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