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Weekly Forecast on Domestic Selenium Market

SHANGHAI, Jan. 8 (SMM) -- This week, prices of domestic silicon metal experienced slight decline, and prices of high grade silicon metal were relatively firm. Most downstream producers adopted a wait and see attitude and overall trading volumes&nbsp;were low. # 553 was mainly traded around RMB 12,000/mt, and # 2202 was in the RMB 14,000-14,400/mt range. Most domestic produces had spot inventories on hand, and they were highly expected purchase volumes from downstream consumers before the Chinese New Year holiday. In addition, prices still received support due to high costs. Recently, offers from producers were relatively firm. In this context, downward room for silicon prices will be limited.
According to SMM, supply still exceeds demand in the market, and this trend will not change before the Chinese New Year holiday. Although traders wanted to move goods, their interest in moving goods was not as strong as the same at the end of 2009. Purchasing volumes from downstream companies were not high since downstream purchasers made purchase on an as-needed basis. Export market was still sluggish, expected prices from overseas purchasers were declining. Traders could only make deals with low priced goods which were replenished earlier. It is expected that silicon market will improve in January, and prices of silicon metal will be relatively stable. Mainstream traded prices of # 553 and # 2202 will be in the RMB 12,000-14,000/mt range.
Positive Factors
1.&nbsp;Support of costs 
2.&nbsp;Restriction electric power supply 
3.&nbsp;Low operation rates at producers 
4.&nbsp;Purchase volumes from downstream consumers before the Chinese New Year holiday.
Negative Factors
1.&nbsp;Sluggish demand from overseas market 
2.&nbsp;Wait and see sentiment from downstream consumers 
3.&nbsp;Traders move inventories
&nbsp;
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