Traders: export market of silicon metal going down but ...

Export market of silicon metal have kept quiet for two weeks as most buyers are watching the market, expecting the price to drop in the near future. Almost all the traders agreed that export market will go down in the near future, but most of them still insisted on higher prices of USD1,570-1,580/t FOB CMP for 5-5-3, while others start to sell at lower prices this week, fearing the market to fall drastically.

A trader in Fujian said that they have not purchased any materials for two weeks as most overseas buyers have no intention of buying, waiting for the price to decrease further.

“Some buyers would like to purchase our 5-5-3 and 4-4-1 at USD1,550/t FOB CMP and USD1,580/t FOB CMP this week, decreased by USD30/t compared with that of last week,” said the source. “But we don’t plan to sell at such low prices.”

The source said that they would rather hold materials from selling now as they believe the market will rebound again at the end of October.

A trader in Jiangxi said that he is in a hurry to empty stocks as he is afraid that the export price will decrease sharply in the near future, because he found that most smelters and traders have a lot of stock at hand.

The source revealed that he concluded deals of 5-5-3 at USD1,550/t FOB CMP this week, down from his last deal of USD1,570/t FOB CMP ten days ago.

“We received many offers of 5-5-3 from smelters recently, with prices in a range of RMB11,000-11,300/t (USD1,463-1,503/t), but we did not purchase as export market is quiet,” said the source. “I don’t expect the future market of silicon metal to be better.”



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