As downstream users still showed no intention to stockpile at low prices, the silicon metal spot prices fluctuated at low levels

This week, the silicon metal spot market was weak. These are silicon metal prices (by type) as of June 27 and their WoW changes: standard #553 silicon metal in East China (12,300-12,500 yuan/mt, -400 yuan/mt WoW), above-standard #553 silicon metal (12,700-12,900 yuan/mt, -250 yuan/mt WoW)), #441 silicon metal (13,100-13,300 yuan/mt, -100 yuan/mt WoW), and #421 silicon metal (13,500-13,600 yuan/mt, -50 yuan/mt WoW). On Monday and Tuesday, the Si2408 contract fell sharply for two consecutive days, with a total decline of nearly 800 yuan/mt, reaching a low of 11,065 yuan/mt. Traders and downstream users rushed to buy non-delivery brand products such as silicon metal (Si≥99%), #551 silicon metal, and medium-frequency furnace silicon whose prices were benchmarked against the Si2408 contract. Meanwhile, the release of low-price sources and the price reductions by some silicon plants due to market conditions led to a further decline in the center of transaction prices.

This week, the low-grade silicon metal prices plunged, prompting downstream to increase purchases based on essential demand. However, after this round of price declines, downstream users still showed no intention to stockpile at low prices. Therefore, the demand in the silicon metal spot market was sluggish. The outflow of low-price sources from futures and spot traders somewhat stimulated the decline in spot silicon metal prices. Recently, the spot prices fluctuated at low levels.