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SMM, January 23:
Silicon Metal Market:
Silicon Metal:
This week, spot silicon metal prices were basically stable. As the Chinese New Year approaches, pre-holiday stockpiling by downstream sectors was mostly completed. Coupled with reduced road transport capacity before the holiday, the industry gradually entered holiday mode, leading to low market inquiry and transaction activity. As of January 23, above-standard #553 silicon metal in east China was priced at 10,800-10,900 yuan/mt (flat WoW), #441 silicon metal at 11,000-11,300 yuan/mt (flat WoW), and #3303 silicon metal at 11,900-12,000 yuan/mt (flat WoW). In the futures market, the most-traded SI2503 contract fluctuated upward, closing at 10,755 yuan/mt on January 23, with the highest price reaching 10,940 yuan/mt earlier in the week. Some northern silicon enterprises engaged in hedging activities. Demand side, polysilicon enterprises' operating rates were also basically stable this week, with a slight increase expected by the end of Q1. Operating rates of silicone enterprises declined this week, with some monomer plants in central China reducing production due to maintenance, and production capacity is expected to resume after the Chinese New Year. Significant differences in operating rates and production costs were observed between northern and southern silicon metal producers, leading to varying willingness to sell and large price differences for #421 silicon metal across regions. Aluminum-silicon alloy enterprises continued to operate weakly this week, with some primary aluminum-silicon alloy enterprises slightly reducing operating loads, though overall changes were limited. Leading secondary aluminum-silicon alloy enterprises planned production breaks from January 24 to 27, with most resuming around February 5. Small and medium-sized enterprises also observed Chinese New Year breaks, resulting in significant fluctuations in operating rates within the secondary aluminum industry. Recently, some post-holiday delivery orders were under negotiation. Feedback indicated that downstream sectors mostly expected post-holiday order prices to remain flat or decrease slightly. On the supply side, many silicon enterprises paused quotations, adopting a wait-and-see sentiment.
Polysilicon Market:
Polysilicon: This week, mainstream transaction prices for N-type recharging material were 39-45 yuan/kg, while N-type dense material was priced at 38-42 yuan/kg. Polysilicon prices remained stable overall this week. Late last week, a leading enterprise completed a transaction of nearly 10,000 mt at approximately 41 yuan/kg, which remains within the mainstream transaction price range. Market sentiment was cautious, with mixed production schedules reported for February. Silicon Wafer: This week, domestic N-type 18Xmm silicon wafers were priced at 1.18-1.18 yuan/piece, N-type 210R wafers at 1.3-1.35 yuan/piece, and N-type 210mm wafers at 1.55-1.55 yuan/piece. Silicon wafer prices remained stable overall this week, though resistance to high-priced resources persisted, and market transactions declined significantly. The UFLPA list gained attention over the weekend and earlier this week, further intensifying market caution. For February, production schedules are expected to increase slightly, driven by capacity expansion among integrated enterprises.
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