Silicon Metal Prices Consolidate at Low Levels Market Purchases as Needed [SMM Silicon Industry Weekly Review]

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SMM March 20: Silicon Metal: This week, silicon metal market prices remained at low levels, with the decline notably narrowing compared to last week. As of March 20, in East China, above-standard #553 silicon was priced at 10,300-10,500 yuan/mt, down 100 yuan/mt WoW; #441 silicon was at 10,600-10,800 yuan/mt, down 100 yuan/mt WoW; and #3303 silicon was at 11,600-11,900 yuan/mt, down 50 yuan/mt WoW. In the futures market, the main contract Si2505 continued to fluctuate downward during the week, closing at 9,740 yuan/mt on the afternoon of March 20, a decrease of 205 yuan/mt or 2% WoW. On the supply side, some silicon enterprises reduced or halted production, while new capacity came online or resumed production, leading to an increase in silicon metal production. In terms of market transactions, downstream buyers maintained purchasing as needed. Demand side, polysilicon enterprise operating rates were basically stable, with some silicon powder orders released recently, and the transaction price of silicon powder orders decreased WoW. Silicone enterprises' operating rates are expected to weaken, previously around 70%, with plans to cut production and reduce load to stand firm on quotes, aiming for an industry operating rate of around 60%, which is expected to weaken demand for silicon metal. The price quotations for #421 silicone remained highly varied. Aluminum-silicon alloy enterprises' operating rates were basically stable, maintaining purchasing as needed for silicon metal. Raw material side, in March, silicon coal prices in Ningxia and Gansu fell by 60 yuan/mt, caking coal prices in Xinjiang dropped by 190 yuan/mt, while other regions' silicon coal prices remained stable. After a previous rise, petroleum coke prices also pulled back in March. Other smelting raw material prices for silicon metal were basically stable. The supply and demand situation for silicon metal has not changed much from before, with some silicon enterprises developing a sentiment to stand firm on quotes as silicon prices continue to fall, but the spot market's liquidity is moderate, and downstream purchasing sentiment is average, with silicon metal prices consolidating at low levels. Polysilicon: This week, the mainstream transaction prices for N-type recharging polysilicon were 39-45 yuan/kg, and for N-type dense polysilicon, 38-42 yuan/kg. This week, polysilicon prices remained temporarily stable, with new monthly market negotiations and order signings gradually starting. Early in the week, the probing sentiment was weak, and wafer enterprises were cautious in their purchases based on their own production schedules and market inventory considerations. Market transactions were limited, and polysilicon may face certain inventory pressure going forward. Wafers: This week, domestic N-type 18Xmm wafers were priced at 1.18-1.2 yuan/piece, N-type 210R wafers at 1.35-1.4 yuan/piece, and N-type 210mm wafers at 1.5-1.55 yuan/piece. This week, wafer prices remained stable, with some enterprises testing a price of 1.45 yuan/piece for 210R wafers, but the market has not yet seen actual transactions. Considering the rush for installations, cost-effectiveness of operations, and labor recruitment issues, April wafer production may fall short of expectations.

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