According to the analysis of the Business Society’s market monitoring system, on November 25th, the domestic market price of silicon metal # 441 was based on 12120 yuan/ton, which was basically stable compared to November 8th. Compared with November 1st (market price of silicon metal # 441 was 12070 yuan/ton), the price increased by 50 yuan/ton, an increase of 0.41%; Compared with October 1st (market price of 11960 yuan/ton for silicon metal # 441), the price has increased by 160 yuan/ton, a 1.34% increase.

From the market monitoring system of Shengyi Society, it can be seen that in the recent period (11.15-11.20), the overall stable operation of the domestic spot market for silicon metal # 441 has been the main trend. However, due to the recent opening price drop of nearly 800 yuan compared to the beginning of the month for the main futures contracts, the actual trading center of some other grades of silicon metal in the spot market has slightly weakened. As of November 20th, the domestic market price reference for metallic silicon 441 # is around 11900-12400 yuan/ton.

Data analysis

In terms of production and operation: The newly built metal silicon production capacity in the northern region is steadily being put into operation, and the current metal silicon production is still in a state of high in the north and low in the south. During the month, the overall operating rate of silicon enterprises in Xinjiang remained at 85-87%. Yesterday, the operating rate remained at a high level, with most silicon enterprises mainly delivering orders and the overall inventory increase was not significant. The operating rate of silicon enterprises in Yunnan region is between 47-49%, with the main production area coming from Baoshan, Yunnan. The overall operating rate is at a relatively low level. Although Yunnan silicon enterprises have the willingness to clear inventory, they are limited by the current market situation, with low prices and overall shipping enthusiasm. The operating rate of silicon enterprises in Sichuan region is between 33-35%, maintaining this low level. Most silicon enterprises have started to reduce production and shut down their furnaces since the end of October. Some other silicon enterprises may still have plans to continue shutting down their furnaces this month. The overall operating rate and output are both at a low level.

In terms of supply and demand: Currently, the silicon metal market is in a weak state of supply and demand. Although the downstream demand performance is average, the overall operating rate and production are not high, so the pressure on the supply side is not significant, and the supply side is in a state of slight inventory accumulation.

Upstream aspect: Currently, the upstream raw material silica market for metallic silicon is operating steadily, with silica mines mostly shipping on a single schedule. Currently, the overall supply of silica is relatively loose, and the demand for raw material silica in the downstream metallic silicon market is relatively average. Overall trading in the silica market is relatively light. The ex factory price of high-grade silica ore in Inner Mongolia is referred to as 360-390 yuan/ton, and the ex factory price of low-grade silica ore is referred to as 260-280 yuan/ton.

Market analysis in the future

At present, the overall trading atmosphere in the domestic silicon metal market is relatively quiet. With the overall expectation of on-site construction continuing to decline, the pressure on the silicon metal supply side is controllable. Although the transmission performance between supply and demand is still average, it will be able to maintain weak stability. The silicon metal data analyst from Business Society believes that in the short term, the domestic silicon metal market will mainly operate with large stability and small movements, and specific changes in supply and demand news need to be monitored.