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SMM April 24 News:Silicon Metal:
This week, the transaction center of silicon metal spot was weak, and the futures market moved sideways. In the spot market, as of April 27, oxygen-blown #553 silicon in east China was at 9,500-9,800 yuan/mt, down 250 yuan/mt WoW, while #441 silicon was at 9,800-10,000 yuan/mt, down 400 yuan/mt WoW. Last Friday, the main futures contract fell 3.43%, with the lowest point near 8,700 yuan/mt. Due to the relatively small fluctuation in the spot-futures price spread, the spot and futures prices fell rapidly, driving the transaction center downward. This week, the main futures contract fluctuated rangebound around 8,800-8,900 yuan/mt, and the spot-futures quotations still had an advantage over silicon enterprises. Silicon enterprises' quotations lagged behind the decline and the reduction was slow, while some silicon enterprises maintained stable quotations due to losses.
On the demand side, the operating rate of polysilicon enterprises was basically stable this week. According to the production schedule of polysilicon enterprises, the resumption of production in Sichuan and Yunnan polysilicon enterprises fell short of expectations, and some polysilicon enterprises have production cut plans in May, so the operating rate in May is expected to weaken. The operating rate of silicone enterprises was basically stable. In the past two weeks, the price of silicone products fell sharply, and the profits of monomer plants narrowed rapidly. Some enterprises were willing to purchase low-priced #421 silicon in the market to reduce costs. The operating rate of aluminum-silicon alloy enterprises was basically stable. As the silicon price fell, the silicon-aluminum price spread expanded again, but due to the high prices of raw materials such as aluminum scrap and copper, and the struggle to catch up with cost increases, the profitability of secondary aluminum-silicon alloys did not improve, and the procurement of silicon metal remained demand-driven.
The spot price of silicon metal continued to hit new lows, and the possibility of production cuts or shutdowns increased for some silicon enterprises after digesting raw material inventories. The commissioning progress of new capacity originally planned to be put into production in April was also delayed due to market conditions. This time, the decline in silicon prices was slow for silicon enterprises, and the recent decline in silicon prices will narrow. In May, demand support is weak, and it is difficult for silicon prices to bottom out.
Polysilicon:This week, the mainstream transaction price of N-type recharging polysilicon was 39-45 yuan/kg, and the mainstream transaction price of N-type dense polysilicon was 37-41 yuan/kg. This week, polysilicon prices continued to fall, and the transaction prices of some enterprises were lower than the current mainstream market quotations. The downward trend in the polysilicon spot market was relatively obvious. An industry meeting was held on Wednesday, and the resumption of production of some polysilicon enterprises may be delayed, and some enterprises have production cut plans in May. Enterprises began to intentionally maintain the current market, but it should be noted that downstream sentiment has not improved, and polysilicon inventory also has some pressure.
Wafers:This week, the domestic N-type 18Xmm wafer was 1.15-1.2 yuan/piece, the N-type 210R was 1.35-1.4 yuan/piece, and the N-type 210mm wafer was 1.4-1.45 yuan/piece. This week, wafer prices continued to pull back, and the decline was seen across all sizes. Wafer enterprises held an industry meeting on Tuesday, and the quotas of each company were adjusted downward. The expectation of subsequent wafer and battery production cuts is high, which is expected to alleviate the supply surplus situation.
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