SHANGHAI, July 29 (SMM) -- Some small producers with cash flow pressure began to sell off silicon metal for cash during the last trading week in June in Sichuan, Hunan and Guangxi province.
According to SMM sources, current sell-off traded prices of #553 silicon metal were between RMB 11,100-11,400/mt. The price slip of #553 silicon metal is due mainly to producers' eagerness to move goods. Tax excluded prices, discount for advance payment, and inferior product quality also contributed to lower #553 silicon metal prices. However, mainstream traded prices for #553 silicon metal at Huangpu port were still between RMB 11,500-11,600/mt.
Some silicon metal producing regions will enter into August low-water period in the following week. SMM believes that whether or not silicon metal prices will rebound back shall depend on demand recovery from home and abroad.
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