Operating Rates of Silicon Enterprises Higher in the North and Lower in the South; Silicon Prices Continuously Hit Lows, Enterprise Sentiment Remains Depressed [SMM Weekly Survey on Silicon Metal]

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SMM, January 10: According to an SMM survey, the weekly production of silicon enterprises in Xinjiang (accounting for 79% of capacity) was 27,650 mt, with a weekly operating rate of 57%, which was basically flat WoW. In-plant inventory slightly increased WoW. This week, the operating rate of Xinjiang silicon enterprises remained basically stable. During the week, silicon metal futures prices fell again, with the most-traded contract hitting a low of 10,330 yuan/mt. The prices of futures and spot cargoes were lower than the quotations of silicon enterprises, and market transactions were mainly concentrated in futures and spot cargoes. New orders for silicon enterprises were sluggish, leading to a slight increase in inventory. Silicon metal prices remained at low levels, coupled with a lack of improvement in demand, resulting in insufficient price-driving factors. Some silicon enterprises in Xinjiang showed negative production sentiment.

The weekly production of silicon enterprises in north-west China (accounting for 75% of capacity) was 11,045 mt, with a weekly operating rate of 81%. The statistical scope for north-west China includes Qinghai, Ningxia, and Gansu. In January, both production increases and cuts were observed among sample silicon enterprises in this region. The production increases were mainly driven by the commissioning of newly built capacity, and the overall operating rate in the region remained high.

The weekly production of silicon enterprises in Yunnan (accounting for 30% of capacity) was 3,195 mt, with a weekly operating rate of 38%, down WoW. In-plant inventory fluctuated slightly. Due to sampling bias, the weekly operating rate in Yunnan appeared relatively high. Some silicon enterprises in Baoshan plan to cut production in the coming days, which is expected to further lower Yunnan's operating rate next week. After the production cuts, only a few silicon enterprises in Yunnan will remain in operation.

The weekly production of silicon enterprises in Sichuan (accounting for 32% of capacity) was 0 mt, with a weekly operating rate of 0%, down WoW. Currently, none of the sample silicon enterprises in Sichuan are in operation, and among non-sample enterprises, only one with small hydropower capacity is maintaining production.

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