Uncertainty in the supply of silicon metal increased, and market sentiment remained cautious and watchful. [SMM Silicon Industry Weekly Review]

》View SMM Silicon Product Quotes

》Order and View SMM Metal Spot Historical Price Trends

》Click to View SMM Metal Industry Chain Database

SMM March 27 News: Silicon Metal:

This week, spot silicon metal prices continued to weaken, while the futures market fluctuated due to supply-side news. As of March 27, above-standard #553 silicon in east China was priced at 10,100-10,300 yuan/mt, down 200 yuan/mt WoW, #441 silicon at 10,500-10,700 yuan/mt, down 100 yuan/mt WoW, and #421 silicon at 10,900-11,200 yuan/mt, down 100 yuan/mt WoW. In the futures market, the main contract fluctuated considerably during the week, closing at 9,920 yuan/mt on the afternoon of March 27, up 180 yuan/mt or 2% WoW. There were many reports of joint production cuts by major self-disciplined enterprises during the week, but as the cuts have not yet been implemented and there is resistance to actual execution, the market's sentiment feedback was relatively muted. Supply-side quotations were largely stable, with some sources offering price concessions to promote order signing. Demand-side purchasing remained cautious, mainly on an as-needed basis.

On the demand side, polysilicon enterprises' operating rates were basically stable during the week, with some capacity additions in April, but the overall supply increase was limited. Judging from the recent transaction prices of silicon powder orders, silicon prices continued to decline. Silicone enterprises' operating rates were weak during the week, and due to self-discipline in the silicone industry, monomer plant operating loads are expected to decrease by about 5% starting next week. During the week, there were some low-titanium #421 silicon order tenders, and monomer plants' price pressure sentiment remained, with attention on actual transaction prices. Aluminum-silicon alloy enterprises' operating rates were basically stable during the week, with aluminum alloy enterprises purchasing in small quantities and multiple times as needed.

According to the March supply-demand balance, industry inventory showed a slight buildup, with weak demand for silicon metal leading to continuous price declines. Recently, there have been many reports of production cuts or shutdowns by top-tier enterprises, and there is some uncertainty on the supply side in April. Market sentiment is cautious, with attention on future developments and changes in market sentiment.

Polysilicon: This week, the mainstream transaction prices for N-type recharging polysilicon were 39-45 yuan/kg, and for N-type dense polysilicon were 38-42 yuan/kg. Polysilicon price ranges remained stable this week. From the new month's market transactions, overall order signing sentiment was cautious, with some weak quotations among major enterprises earlier. Polysilicon inventory is gradually destocking, but resistance remains significant. Due to the short window period, the market is pessimistic about the future.

Silicon Wafers: This week, domestic N-type 18Xmm silicon wafers were priced at 1.18-1.23 yuan/piece, N-type 210R at 1.35-1.45 yuan/piece, and N-type 210mm silicon wafers at 1.5-1.55 yuan/piece. Silicon wafer prices rose this week, mainly in the 183 and 210R models. Earlier destocking of silicon wafers was evident, and the continued rise in solar cell prices also provided some confidence for silicon wafers. However, with little time left in the window period, the market is cautious about high-priced resources, and it remains to be seen whether this new round of quotations will be accepted. Top-tier enterprises have limited enthusiasm for production increases in April, and silicon wafer production schedules may fall short of expectations.

For more detailed market information and dynamics, or for other information needs, please call 021-51666820.