According to the analysis of the Business Society’s market monitoring system, on January 15th, the reference price for domestic silicon metal # 441 was 11340 yuan/ton. Compared with January 10th (silicon metal # 441 market price of 11510 yuan/ton), the price decreased by 170 yuan/ton, a decrease of 1.48%. Compared with January 1st (silicon metal # 441 market price of 11690 yuan/ton), the price decreased by 350 yuan/ton, a decrease of 2.99%.
From the market monitoring system of Shengyi Society, it can be seen that in mid January, the domestic spot market for silicon metal continued to move towards a low level, and the overall market focus fell sharply again. As of January 14th, the price reference for Oxygen 553 # in East China is around 10900-11000 yuan/ton, 441 # is around 11200-11400 yuan/ton, 521 # is around 11300-11600 yuan/ton, and 421 # is around 11500-11800 yuan/ton.
Analysis of Market Factors
In terms of construction: As we enter mid January, the overall construction rate of the domestic silicon metal market continues to decline. Currently, the weekly construction rate in Xinjiang is around 57%, slightly lower than the beginning of the month. At present, the overall production in Xinjiang has also decreased. The weekly operating rate of silicon metal in Yunnan region is around 43%, slightly lower than the beginning of the month. At present, there are relatively few silicon producing enterprises in Yunnan region, and there will still be continued production cuts in the future. The current weekly operating rate in Sichuan region is only 7%, and it has also slightly decreased compared to the beginning of the month. Some silicon companies in the market are currently in production.
On the supply side: Currently, the domestic silicon metal market is in a weak supply-demand situation, with low silicon metal production in Xinjiang and Yunnan regions, and limited production in Sichuan region. Sichuan region has downstream supporting businesses in the silicon industry, resulting in low willingness to sell at discounted prices. The overall supply side of the market has slightly reduced inventory, and the supply side market is weak.
In terms of demand, there is a partial demand for supplementary orders in the downstream of metal silicon in Xinjiang, and the overall market has slightly reduced inventory. The inquiry atmosphere in the downstream of Yunnan is light, and the overall shipment pace is slow, with limited market support from the demand side.
Market analysis in the future
Currently, the market for silicon metal has fallen to a relatively low level. Although downstream demand orders are relatively low, due to the support of silicon companies’ own production costs and production reduction, the willingness to make significant concessions in the silicon metal market is still low. Therefore, the metal silicon data analyst from Shengyi Society believes that in the short term, the domestic spot market for silicon metal will mainly be weak and operate in a consolidated manner, and specific changes in supply and demand information need to be closely monitored.
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