The market for raw materials such as silica, silicon coal, and electrodes has remained relatively stable, with petroleum coke prices mainly consolidating [SMM Weekly Review of Silicon Metal Raw Materials]

Silica: This week, the silica market continued to operate in the doldrums. In terms of supply, the overall supply remained loose, and inventory pressure persisted at mine mouths. In terms of demand, influenced by the rainy season and the recent uptick in the silicon metal market, a small number of silicon plants in south-west China resumed production, leading to a slight increase in demand for raw materials. However, purchases were still predominantly small orders with a focus on driving down prices. Overall, the silica market is expected to remain in the doldrums in the short term. Currently, the mine-mouth price of high-grade silica in Inner Mongolia ranges from 300 to 330 yuan/mt. In Hubei, the mine-mouth price of high-grade silica ranges from 290 to 320 yuan/mt. In Jiangxi, the mine-mouth price of high-grade silica ranges from 380 to 420 yuan/mt, while the mine-mouth price of low-grade silica ranges from 310 to 330 yuan/mt.

Silicon coal: This week, the silicon coal market was largely stable. In terms of supply and demand, most coal processing plants in various regions continued to arrange production schedules according to order volumes, with no inventory pressure. However, influenced by the recent uptick in the silicon metal market and the resumption of production at some silicon plants in south-west China during the rainy season, demand for silicon coal as a raw material increased, leading to a simultaneous increase in the operating rates and production of coal processing plants. In terms of costs, despite the good performance of coking coal futures, the overall increase in coking coal spot prices was limited, providing insufficient driving force for silicon coal prices. Therefore, silicon coal prices remained stable. The average price of non-caking silicon coal in Xinjiang is 710 yuan/mt, the average price of caking silicon coal in Xinjiang is 1,250 yuan/mt, the average price of silicon mixed coal in Gansu is 840 yuan/mt, the average price of granular coal is 960 yuan/mt, the average price of silicon mixed coal in Ningxia is 875 yuan/mt, and the average price of granular coal is 1,040 yuan/mt.

Petroleum coke: This week, the petroleum coke market saw steady shipments, supported by downstream enterprises' restocking to meet rigid demand. Overall, petroleum coke prices remained stable, with some refineries experiencing improved indicators and higher prices. According to the latest data from SMM, the average price of petroleum coke at local refineries was reported at 2,423 yuan/mt, up 3.77% MoM. Additionally, the trading performance of Formosa Plastics petroleum coke remained sluggish throughout the week, with prices continuing to weaken. The current quotation range in the market is concentrated at 940-970 yuan/mt. Judging from the overall market performance, downstream enterprises' purchasing behavior has gradually returned to a rational rigid demand mode, and it is expected that subsequent market transactions will stabilize. Overall, SMM predicts that petroleum coke prices will remain stable next week.

Electrodes: This week, the electrode market operated steadily. In terms of supply, due to the near-safety-stock levels of electrodes of certain specifications at some manufacturers and the constraints of production cycles, the operating rate increased slightly, but the overall operating rate remained at a low level. Currently, the price of ordinary power carbon electrodes with a diameter of 960-1100mm ranges from 6,400 to 6,600 yuan/mt, the price of ordinary power carbon electrodes with a diameter of 1272mm ranges from 7,200 to 7,600 yuan/mt, the price of ordinary power graphite electrodes with a diameter of 960-1100mm ranges from 10,000 to 10,200 yuan/mt, the price of ordinary power graphite electrodes with a diameter of 1272mm ranges from 11,400 to 11,600 yuan/mt, and the price of ordinary power graphite electrodes with a diameter of 1320mm ranges from 12,400 to 12,600 yuan/mt.

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