Latest Update in the China Silicon Market

This is a roundup of China's metals weekly inventory as of November 25.

SHANGHAI, Nov 25 (SMM) - The magnesium market still performed poorly this week, and the market quotations showed a downward trend.

Silicon metal prices extended the declines this week. As of November 25, the prices of standard #553 silicon metal in east China lost 550 yuan/mt or 3% on a weekly basis to 18,700-18,900 yuan/mt, those of above-standard #553 silicon metal dropped 550 yuan/mt or 3% to 19,800-20,100 yuan/mt, those of #3303 silicon metal also declined 600 yuan/mt or 3% to 20,500-20,700 yuan/mt.

The social inventory of silicon metal across Huangpu port, Kunming city and Tianjin port increased 2,000 mt from the previous week to 117,000 mt as of November 25.

On November 24, the average price of spot EMM stood at 15,900-16,100 yuan/mt, up 100 yuan/mt from the previous trading day.

However, some leading traders said that the export growth in October is far from a firm evidence that the export market has fully recovered.

Today, the mainstream ex-factory prices of magnesium ingots (Mg 99.90%) in Fugu area were around 23,200-23,300 yuan/mt, which is 100 yuan/mt lower than yesterday.

SHANGHAI, Nov 23 (SMM) - China exported 22,966 mt of magnesium ingots in October 2022, a month-on-month increase of 23.4%, but a year-on-year decrease of 5.6%.