SMM March 26 News:
Silica
Price: Silica prices remained stable. The resumption time for most silicon plants in south-west China during the rainy season is still unclear, but as April approaches, a small number of manufacturers confirmed to resume production in May have started to restock raw materials gradually. The overall demand for silica raw materials is expected to improve slightly. Currently, the mine-mouth price of high-grade silica in Jiangxi is 430-460 yuan/mt. The mine-mouth price of high-grade silica in Inner Mongolia is 350-380 yuan/mt. The mine-mouth price of high-grade silica in Hubei is 400-450 yuan/mt.
Production: The supply side of silica is normal, but as downstream silicon metal plants still do not have large-scale concentrated procurement demand, the overall supply remains relatively loose.
Inventory: Currently, only a small number of silicon plants in south-west China have been purchasing raw materials for restocking recently. Most silicon plants have delayed their restocking plans due to the unclear resumption time.
Silicon Metal
Price: Spot silicon metal prices were basically stable. The above-standard #553 silicon in east China was quoted at 10,300-10,500 yuan/mt. The main futures contract continued to recover slightly, closing at 9,950 yuan/mt at the end of yesterday's session. The purchasing atmosphere among traders and downstream buyers was moderate, with market transactions based on demand.
Production:
In recent days, there have been many rumors about production cuts planned by several large manufacturers. The specific plans and whether the cuts will be implemented have not been finalized yet. Silicon metal production remains basically stable, with attention on the implementation of these plans in the future.
Inventory:
Social Inventory: According to SMM statistics, the national social inventory of silicon metal on March 21 totaled 591,000 mt, a WoW decrease of 3,000 mt. Among them, social ordinary warehouses held 135,000 mt, a WoW decrease of 4,000 mt, and social delivery warehouses held 456,000 mt (including unregistered warrants and spot cargo), a WoW increase of 1,000 mt.
Silicone
Price
DMC: Current quotations are 14,400-14,800 yuan/mt. Market prices remained stable this week. After the price increase last week, the trading atmosphere was good, but purchasing sentiment slightly declined this week, and trading volume decreased. However, due to the reduction in monomer load, prices are expected to remain stable in the near future.
D4: Current quotations are 14,500-16,100 yuan/mt. Prices rose last week but remained stable this week.
107 Silicone Rubber: Current quotations are 14,500-15,000 yuan/mt. Prices rose last week but remained stable this week.
Raw Rubber: Current quotations are 14,900-15,500 yuan/mt. Prices rose last week but remained stable this week.
Silicone Oil: Current quotations are 15,700-16,600 yuan/mt. Prices rose last week but remained stable this week.
Production:
Recently, monomer enterprises have started to reduce their loads as planned, and the industry operating rate is gradually approaching 60%. In addition, there will be further reductions in monomer load in the supply side, leading to a significant decrease in supply.
Inventory:
This week, monomer enterprises' inventories decreased slightly. The price increase of domestic silicone products last week appropriately stimulated downstream restocking, leading to a slight reduction in inventory levels at monomer enterprises.
Polysilicon
Price
Yesterday, the mainstream transaction price of N-type recharging polysilicon was 39-45 yuan/kg. Polysilicon prices remained stable this week, with market transactions gradually expanding. Transaction prices were weak, and there was significant resistance to price increases.
Production
Polysilicon enterprises' operations were relatively stable in March, and there may be some new additions in April, but overall supply is limited.
Inventory
Some orders were picked up earlier, and recent transactions have gradually expanded, leading to a slight decline in inventory.
Silicon Wafer
Price
The market price of N-type 18X silicon wafers is 1.18-1.2 yuan/piece, and the price of N-type 210RN silicon wafers is 1.35-1.45 yuan/piece. Silicon wafer prices remained stable. Currently, the supply and demand for 210R silicon wafers are still slightly tight, while the supply in other markets is relatively sufficient.
Production
Actual silicon wafer production in March declined slightly, estimated at just over 50 GW. Silicon wafer production in April will increase, but top-tier enterprises remain cautious about increasing production due to future market considerations.
Inventory
Battery production in March was still higher than silicon wafer production. With future demand looking positive, there is still an expectation of destocking in the future.
High-Purity Quartz Sand
Price
High-purity quartz sand prices remained stable this week. Domestic inner-layer sand prices were 60,000-75,000 yuan/mt, middle-layer sand prices were 35,000-45,000 yuan/mt, and outer-layer sand prices were 20,000-25,000 yuan/mt. The market price center remained stable this week, but domestic sand enterprises still plan to slightly increase quotations recently, with prices showing signs of rising.
Production
Domestic operations remained stable this week, and overseas production lines were also operating stably, with overall production showing a steady increase.
Inventory
Quartz sand inventories continued to increase. Recently, with the downward shift in the transaction center for crucibles, downstream purchasing resistance to price increases has strengthened. Most enterprises are adopting a wait-and-see approach, leading to a slight increase in sand enterprises' inventories.
