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Prices of Silicon Coal, a Raw Material for Silicon Metal, Decline While Petroleum Coke Prices Diverge [SMM Weekly Review on Raw Materials for Silicon Metal]

  • Feb 27, 2025, at 4:57 pm
[Silicon Metal Raw Material Silicon Coal Prices Decline, Petroleum Coke Prices Diverge] This week, silicon coal prices in some regions were adjusted downward. Under the dual impact of weak costs and demand, silicon coal prices declined in Ningxia and Gansu. Petroleum coke prices showed divergence this week, with both increases and decreases observed.

 

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Silica: This week, silica prices remained stable. The silicon metal market demand continued to be sluggish. Some silicon plants in south-west China recently reported that the resumption time during this year's rainy season remains uncertain, and there are no plans to replenish raw material inventory. Therefore, the silica market demand is still primarily driven by operating silicon plants in northern China, with overall demand remaining at a low level. Currently, the mine-mouth price of low-grade silica in Yunnan is 330-350 yuan/mt. The mine-mouth price of high-grade silica in Inner Mongolia is 350-380 yuan/mt, in Hubei is 400-450 yuan/mt, and in Jiangxi is 430-460 yuan/mt.

Silicon Coal: This week, silicon coal prices declined in some regions. In Ningxia and Gansu, silicon coal prices dropped again this week, mainly due to the recent decline in coking coal prices, which weakened mine-mouth raw coal prices and further reduced cost support for silicon coal. Coupled with the continued weak demand from downstream silicon metal plants, the dual negative factors caused silicon coal prices in Ningxia and Gansu to decline again at the beginning of the week. Currently, the ex-factory price of silicon coal (granular) in Ningxia is 1,290-1,450 yuan/mt, with an average price decrease of 50 yuan/mt. The ex-factory price of silicon coal (mixed) in Ningxia is 1,090-1,120 yuan/mt, with an average price decrease of 60 yuan/mt. The ex-factory price of silicon coal (mixed) in Gansu is 1,090-1,110 yuan/mt, with an average price decrease of 50 yuan/mt. The ex-factory price of silicon coal (granular) in Gansu is 1,250-1,270 yuan/mt, with an average price decrease of 50 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 1,100-1,120 yuan/mt. The ex-factory price of silicon coal in Shaanxi is 940-960 yuan/mt.

Petroleum Coke: During the week, the shipment performance of petroleum coke at refineries continued to diverge, with downstream enterprises only purchasing as needed. Petroleum coke prices also showed a divergent trend. Among major refineries, CNOOC refineries reported average shipment performance during the week, with petroleum coke prices remaining stable to slightly declining. Sinopec refineries showed moderate shipment performance, leading to a slight increase in petroleum coke prices. Meanwhile, local refineries experienced poor shipment performance, causing their petroleum coke prices to decline continuously during the week. According to the latest data from SMM, the average price of petroleum coke at local refineries was approximately 2,956 yuan/mt, down 4.65% MoM. Additionally, Formosa Plastics' petroleum coke showed mediocre performance, with market prices slightly declining while remaining stable, currently quoted in the range of 1,350-1,450 yuan/mt. From the overall supply perspective, the tight supply situation of petroleum coke is unlikely to be effectively alleviated in the short term. Coupled with the rigid demand from downstream enterprises, the market has received some support. Overall, petroleum coke prices are expected to continue fluctuating within a high range.

Electrodes: Electrode prices remained stable at low levels. With the recent pause in the upward trend of low-sulfur calcined petroleum coke, the cost pressure for electrodes used in silicon production has temporarily eased. However, due to limited new order demand from downstream silicon metal plants, electrode manufacturers continue to focus on fulfilling previous long-term contracts and have no plans to renegotiate prices. 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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