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[Minor metal] Forecast of Silicon Metal Market
SHANGHAI, May 8 (CBI China) -- Silicon metal market remained stable after Labor Day holiday, with narrowed range for traded price, and the market tended to be quiet. The profit margins for exporters shrank, and most of traders targeted to domestic market. The Yunnan provincial government announced the reserve plans, and the impact of 10kt of reserve volumes on the market is limited.
CBI believes silicon metal markets will record no significant improvements next week, but with possibility of slight rise. The positive impact of transactions in export market and favorable news drove up the price of silicon metal. In addition, factories were cautious about operation, and the supply will experience no marked increases in the short term. The factories and traders focused on consuming the existing inventories, helping stimulate the market recovery.
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