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SMM, January 16: As the Chinese New Year approaches, downstream demand for silicon metal raw material procurement remains very sluggish. The pre-holiday raw material stockpiling by silicon metal manufacturers has been completed. It is expected that the procurement demand for raw materials by northern silicon enterprises will recover around March next year, while southern silicon enterprises may see a recovery in procurement enthusiasm as early as April-May.
Silica:
This week, silica prices remained largely stable. As the Chinese New Year approaches, downstream silicon plants show extremely low demand for raw material procurement, and pre-holiday raw material inventory replenishment has essentially concluded. Coupled with the recent low operating rates in the silicon metal industry, overall demand for raw silica has become even weaker. However, mining activities are increasingly constrained by winter weather and stricter pre-holiday mining controls, with mines gradually entering the holiday period. With both supply and demand weakening, prices remain stable. Currently, the mine-mouth price of low-grade silica in Yunnan is 340-350 yuan/mt. The mine-mouth price of high-grade silica in Inner Mongolia is 360-390 yuan/mt, in Hubei is 420-450 yuan/mt, and in Jiangxi is 440-460 yuan/mt.
Overall, the recovery of silica procurement demand is expected around March next year, while the recovery of raw material stockpiling enthusiasm in southern silicon plants may occur later, likely starting around April-May.
Silicon Coal:
This week, silicon coal prices declined in some regions. Following the price reduction in Xinjiang earlier this month, silicon coal prices in Ningxia and Gansu also began to fall. This decline is attributed to two factors: on one hand, the recent price reduction in coking coal has driven down raw coal prices at mines, leading to a loosening of silicon coal costs. On the other hand, the weak market for downstream silicon metal persists, with both prices and operating rates continuing to decline. Without support from demand, silicon coal prices struggle to remain stable. Under these combined influences, silicon coal prices in Ningxia and Gansu have recently decreased.
Currently, the ex-factory price of silicon coal (granular) in Ningxia is 1,360-1,550 yuan/mt, with an average price decrease of 20 yuan/mt. The ex-factory price of mixed silicon coal in Ningxia is 1,180-1,200 yuan/mt, with an average price decrease of 80 yuan/mt. The ex-factory price of mixed silicon coal in Gansu is 1,170-1,190 yuan/mt, with an average price decrease of 75 yuan/mt. The ex-factory price of silicon coal (granular) in Gansu is 1,320-1,340 yuan/mt, with an average price decrease of 70 yuan/mt. The ex-factory price of silicon coal in Xinjiang is 1,800-1,900 yuan/mt, while the ex-factory price of non-caking silicon coal in Xinjiang is 1,150-1,170 yuan/mt. The ex-factory price of silicon coal in Shaanxi is 940-960 yuan/mt.
Petroleum Coke:
During the week, petroleum coke prices continued to rise, with refinery shipments performing well. Petroleum coke prices increased due to supply reductions, and as the Chinese New Year approaches, downstream carbon enterprises actively stockpile. In the short term, petroleum coke prices are expected to rise slightly. As of now, the average price of petroleum coke from local refineries is approximately 2,026 yuan/mt, up 6.24% compared to last Thursday. Meanwhile, the price of Formosa coke ranges from 1,050 to 1,100 yuan, remaining largely stable due to weak downstream demand and ample port supply.
Electrodes:
Electrode prices remained stable at low levels. Although downstream demand for electrode procurement remains weak, the cost support for electrodes used in silicon production has been relatively strong recently. Additionally, with current electrode market prices at low levels and manufacturers earning minimal profits, prices are unlikely to loosen further. As the Chinese New Year approaches, overall electrode orders and shipments are also limited. It is expected that electrode prices will likely remain stable at low levels. After the holiday, with northern silicon enterprises resuming raw material procurement, a slight recovery in demand combined with cost support may lead to a potential upward fluctuation in prices of electrodes used in silicon production.
Currently, the ex-factory price of ordinary power carbon electrodes (diameter 960-1,100mm) is 7,400-7,800 yuan/mt. The ex-factory price of ordinary power graphite electrodes (diameter 960-1,100mm) is 11,000-12,000 yuan/mt. The ex-factory price of ordinary power graphite electrodes (diameter 1,272mm) is 12,000-13,000 yuan/mt. The ex-factory price of ordinary power graphite electrodes (diameter 1,320mm) is 13,000-14,000 yuan/mt.
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