Latest Update in the China Tungsten / Cobalt / Antimony Market

Social inventories of silicon metal across Huangpu port, Kunming city and Tianjin port rose 3,000 mt to 83,000 mt as of Friday January 15, SMM data showed. 

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on January 15, 2021

The dollar drifted lower on Thursday in choppy trading, after Federal Reserve Chair Jerome Powell struck a dovish tone, saying the US central bank is not raising interest rates anytime soon and rejecting suggestions the Fed might start reducing its bond purchases in the near term.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on January 14, 2021

Silicon prices of various grades started to decline after a short period of stability in December 2020. The pressure on the supply side began to appear after the demand fell with high stocks of downstream raw material.

Operating rates at silicon metal producers in China gained 4.8 percentage points on the month to 55% in December, according to an SMM survey. This was 16.1% higher than the same period last year. Higher operating rates in Xinjiang, Fujian, Guangxi, Shaanxi and Hunan offset declined supply from south-west China amid a dry season.

The US dollar advanced across the board on Wednesday, shaking off the weakness of the previous session, as it continued its recent rebound from last week's near three-year low.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on January 13, 2021