SMM

Silicon Metal's Most-Traded Contract Hits New Low, Market Sentiment Negative: Silicon metal: This week, the silicon metal market prices continued to decline, with a pessimistic market sentiment and falling silicon prices. In the spot market, as of March 6, above-standard #553 silicon in east China was at 10,600-10,700 yuan/mt, flat WoW, #441 silicon was at 10,900-11,200 yuan/mt, down 50 yuan/mt WoW, and #3303 silicon was at 11,800-12,000 yuan/mt, down 50 yuan/mt WoW. In the futures market, the most-traded SI2505 contract fluctuated downward during the week, hitting a low of 10,135 yuan/mt and a high of 10,250 yuan/mt on March 6, closing at 10,175 yuan/mt, down 155 yuan/mt from the previous Thursday's close. Polysilicon: This week, the mainstream transaction prices for N-type recharging polysilicon were 39-45 yuan/kg, and for N-type dense polysilicon, 38-42 yuan/kg. The polysilicon market saw an increase in quotes this week, mainly due to a collective price hike by leading polysilicon manufacturers, raising their quotes to 42-43 yuan/kg for downstream wafer manufacturers. However, actual transactions in the market are still limited, with downstream raw material inventories being sufficient and not in a concentrated order signing period. As the market activity in downstream sectors increases, SMM believes that there is potential for polysilicon to strengthen later.