SunSirs: The Weak Demand Was Difficult to Change, and the Silicon Metal Market Continued to Sink

https://www.chemnet.com   Jul 26,2024 SunSirs

Price trend

According to the analysis of the SunSirs' market monitoring system, on July 25th, the reference price for the domestic market of silicon metal #441 was 12,220 RMB/ton. Compared with July 16th (the market price of silicon metal #441 was 12,760 RMB/ton), the price decreased by 540 RMB/ton, a decrease of 4.23%.

Analysis review

In early July, the domestic silicon metal market experienced an overall decline, with the market center continuing to move downwards. Entering late July, the decline in the silicon metal market had not stopped, and effective support within the market remained weak. The silicon metal market continued to decline, influenced by regional factors. As of July 25th, the overall market price difference of silicon metal 441 in China was still relatively large. As of July 25th, the reference price for the domestic silicon metal #441 market was around 12,000-12,800 RMB/ton.

On July 25th, the market price of 553 (oxygen free) in East China had fallen to around 11,600-11,700 RMB/ton, and the price of 553 (oxygen free) in East China had also basically reached the edge of 12,000 RMB/ton. The market price of 553 (without oxygen) in Kunming area had fallen to around 11,500-11,600 RMB/ton, and the price of 3303 metal silicon in Kunming area was around 12,700-12,800 RMB/ton.

On the supply side: As of July 25th, the overall production of the silicon metal market was still at a relatively high level. Although production in some areas had decreased, the overall supply and demand performance of the market was still unbalanced, and supply side pressure still existed. The support of silicon metal from the supply side had not improved significantly.

On the demand side: As of July 25th, downstream demand for metal silicon continued to be insufficient. Recently, the significant reduction in quotes from major metal silicon companies had brought negative sentiment to the market and once again put pressure on small and medium-sized factories. Industry players were concerned and lacked effective support from demand, leading to an overall downward pressure on the metal silicon market.

Downstream: The downstream market for metal silicon and silicone DMC has recently shown weak performance and was running in a weak downward trend. Recently, major factories in Shandong have once again broken the weak and stable operation of silicone DMC, and have lowered the factory price of silicone DMC twice in a row. As of July 25th, the price of silicone DMC by major factories has dropped to 13,000 RMB/ton. The price adjustment by major factories has led to an overall downward trend in the silicone DMC market, and the overall market has loosened. The trading atmosphere on the market was average.

Market outlook

As of July 25th, the overall wait-and-see atmosphere in the silicon metal market was strong. Recently, the broad downward trend in the silicon metal market has had a significant impact on the market, and it is expected that some factories may have plans to adjust their production in the short term. As of July 25th, the overall market support was limited and the performance was still insufficient. The metal silicon data analyst of SunSirs believes that in the short term, the domestic metal silicon market will mainly adjust in a narrow range, and the specific trend still needs to pay more attention to the changes in supply and demand news.

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