SMM

As of November 23, prices of standard 553# silicon, above-standard 553# silicon, 441# silicon, 421# silicon and 3303# silicon in East China were stable at 14,100-14,200 yuan/mt, 14,500-14,700 yuan/mt, 15,000-15,100 yuan/mt, 15,700-15,900 yuan/mt and 15,600-15,800 yuan/mt respectively. Mainstream traded prices of silicon remained stable this week. Silicon plants kept offers firm amid strong sentiment, with higher offers from south-based plants than those from north-based ones. Transactions mainly occurred in north China. Downstream buyers had low acceptance of tentative rise in offers from some suppliers, and the actual purchase price changed little. In terms of exports, overseas buyers kept making inquiries. However, the actual transaction price was also low due to price competitions among traders and buyers' price reduction.
More silicon companies and traders kept prices firm, making low-priced supplies limited. Mainstream silicon prices may stabilise on the near-term horizon, and some specifications may rise slightly. With forthcoming dry season, electricity prices will rise further in Yunnan and Sichuan. Currently, local silicon plants may sustain losses, and have low intention to produce goods. Month-end production cuts and halts of silicon plants in Sichuan and Yunnan will deserve to be monitored.