Silicon metal prices in China jumped during last week's market assessment on recent currency moves against the dollar, while European prices remained stable though they are expected to increase.
Chinese suppliers of silicon metal have raised their quotations due to the recent strong performance of the Chinese yuan against the US dollar. This meant Chinese silicon metal price jumped further in the past week despite limited spot trading activity. China's grade 553 silicon metal, basis 98.5%, export price was assessed at $1,940-1,980 per tonne on Friday January 19, up 2.3% from previously. "The exchange rate of the Chinese yuan against the US dollar rose so quickly on Friday, which means we technically lost money for business concluded earlier this week," a trader said. The yuan was trading at 6.41 against the dollar...