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Firm Offers but Sluggish Demand in Domestic Silicon Market

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SHANGHAI, Mar. 2 (SMM)&nbsp;-- Offers of domestic silicon metal prices didn't change, but mainstream offer were approaching high-end prices. Mainstream offers of #553 silicon metal in Huangpu port were in the RMB 11,800-12,000/mt range, and #441 were in the RMB 12,600-12,800/mt range, #3303 were in the RMB 12,900-13,100/mt range, and #2202 were in the RMB 14,000-14,200/mt range.
According to SMM sources, trading sentiment was not optimistic, as most purchasers still adopted a wait-and-see attitude given the certain amount of inventories on hand. Transactions among traders were relatively brisker, and traders that had already received orders began to enter the market to make purchases.
SMM believes that demand will gradually improve in March when downstream inventories are gradually consumed. Domestic silicon producers will still keep firm offers even if demand is still sluggish in the near term given the support of price increases of raw materials. It is expected, silicon prices will be stagnant in the fowling 1-2 weeks.
To contact the writer on this report: <a href="mailto:xiangyu@smm.cn">xiangyu@smm.cn</a>
 
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