The price of silicon in China has dropped several times over recent weeks, after setting a then-record price of $9,000-10,000 per tonne on September 24. Downstream demand then fell through October, clouding market confidence, and offer prices went lower and lower.
Fastmarkets' weekly price assessment for silicon, export, 98.5% Si min, fob China, dropped to $5,000-5,500 per tonne on Friday October 29, down by 9.8% from $5,600-6,000 per tonne one week earlier, and down by 47.2% from the September 24 peak.
Fewer deals were heard and concluded, with some market participants selling-off some of their previously acquired low-priced stock.
Sources told Fastmarkets that if they did not offer at low prices, buyers would not consider making inquiries, nor conclude deals.
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