Chinese silicon export prices continued to trend lower on bearish sentiment resulting from weak domestic consumption, while in Europe prices remained steady in thin trading.
The Chinese grade 553 silicon metal export price dropped to $1,840-1,900 per tonne on Friday May 25, down 1.3% from $1,860-1,930 per tonne one week ago. Japanese traders have started extensive procurement since the start of last week to fulfil demand from local secondary aluminium alloys refineries for the third quarter, market participants Metal Bulletin. As a result, buying appetite has resumed to some extent, although prices are still subdued due to bearish sentiment on the looming ramp-up in output by Chinese silicon refineries at a time of domestic China consumption, participants added. Deals on an fob China basis were heard at about $1,840 per tonne between Japanese and Chinese traders, and typical offers Chinese traders made to Japanese buyers were around $1,840-1,880 per tonne, Metal Bulletin learned from the market. Export traders are lowering quotations...