US silicon buyers turn would-be sellers

Market participants in the United States who normally buy silicon have given up trying to sell their surplus metal and the price has settled into an academic range in a near total absence of spot trade while most automakers remain closed during the Covid-19 pandemic, sources told Fastmarkets.

Some say producers are not lowering their offers because they do not believe that business will materialize given the collapse of end demand from the key auto sector.
Some buyers are appraising silicon metal prices higher than before the pandemic now that they are looking to sell.
Asked about this, one buyer said, "Think about it, all the car companies are closed and nobody's buying. Do you think the price could possibly go up?"
He said he last purchased silicon from another buyer more than a month ago, paying below Fastmarkets' existing range, but none since.

US silicon prices had risen then, with Fastmarkets' price assessment for grade 5-5-3 silicon, ddp US...

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