Market Review of Silicon Metal for this Week

Supported by tight supply in the southern regions, the prices of Silicon Metal in the Chinese market showed a slight upward trend this week, but the market demand remained sluggish, leading to limited transactions.

In China, the price of Silicon Metal 4-4-1 remained stable this week, with weak demand, while the price of Silicon Metal 3-3-03 saw a slight decline.

Due to the slight price increase in the Chinese market, the export price of Silicon Metal 5-5-3 from China increased slightly this week. However, subdued overseas markets resulted in limited transactions, and some grades of Silicon Metal experienced a decline in export prices.

Stimulated by the rising prices in the Chinese market, the Silicon Metal prices in the Indian market saw a slight increase.

Influenced by the events in the Red Sea, delayed shipments and local shortages in Europe led to an increase in spot prices for Silicon Metal in the European market.

In the U.S. market, suppliers increased their quotes after the holiday, leading to a slight increase in the price of Silicon Metal 5-5-3.

Review of Chinese Export Market from December 11, 2023, to January 5, 2024:

>Silicon Metal 5-5-3FOB:Supported by the rising prices in the Chinese market, the mainstream export price increased by $30/MT to $2,150-$2,200/MT in the early part of this week.

>Silicon Metal 4-4-1FOB: At the beginning of the week, supported by the rising prices in China, the mainstream export price of Silicon Metal 4-4-1 increased by $50/MT. However, in the latter part of the week, due to weak overseas demand, prices declined by $30/MT. Overall, there was a slight increase of $20/MT to $2,200-$2,250/MT.

>Silicon Metal 3-3-03FOB: Supported by the rising prices in the Chinese market but constrained by weak overseas demand, the mainstream export price of Silicon Metal 3-3-03 remained stable at $2,250-$2,300/MT throughout this week.

International Market Review from December 11, 2023, to January 5, 2024:

>Silicon Metal 5-5-3 for delivery in Europe (including taxes): Influenced by the events in the Red Sea, delayed shipments and reduced production by local manufacturers in Europe led to a 50 euro/MT increase in the mainstream transaction price to €2,200-€2,300/MT, equivalent to $2,415-$2,525/MT.

>Silicon Metal 5-5-3 for delivery in India (including taxes): Supported by the rising prices in the Chinese market, the mainstream transaction price in the Indian market increased by 5 rupees/kg to 185-190 rupees/kg, equivalent to $2,230-$2,290/MT.

>Silicon Metal 4-4-1 for delivery in Europe (including taxes): The mainstream transaction price increased by 50 euros/MT to €2,300-€2,400/MT, equivalent to $2,525-$2,635/MT.

>Silicon Metal 4-4-1 for delivery in India (including taxes): The mainstream transaction price increased by 5 rupees/kg to 195-200 rupees/kg, equivalent to $2,350-$2,410/MT.

Next week's forecast 

Due to sluggish demand and limited transactions in the past month, coupled with manufacturers holding inventory, it is anticipated that the prices of silicon metal 5-5-3 and 4-4-1 in the Chinese market will experience a slight decline in the coming week. Silicon metal 3-3-03 and 2-2-02 are expected to remain stable. For more information on further price trends, please consult HAINAN WEST ASIA IMPORT & EXPORT GROUP CO.,LTD.