[Minor metal] Domestic Silicon Prices Remain Firm

SHANGHAI, Aug. 5 (SMM) -- Silicon metal prices continued to move upward slowly, and factories were firm with their offers, leaving low availability of low-priced spot goods. At present, traded prices were RMB 9,200/mt for #553 silicon and RMB 10,000/mt for #2202 silicon.

    A factory in Guizhou province said they have plenty of orders for August with prices above RMB 9,000/mt, and they have stopped their offers now.

    Traders said there are limited inventories at ports, but most of goods have been ordered. Silicon metal with prices below RMB 9,300/mt is unavailable due to very limited spot supply in the market.

    A trader in Guangzhou said, “we reduced purchases after stock replenishment given high offers from factories. At present, counter-offers from foreign traders were much lower than domestic prices.”

    In other news, a portion of silicon metal are flowing into overseas markets through non-normal channels, with prices USD 100/mt lower than export prices. SMM believes this portion of goods will likely have negative impact on normal exports of silicon metal. Fortunately, this situation will likely improve in the near future, as Huangpu Customs has stepped up stricter inspection.

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