GLOBAL SILICON SNAPSHOT: US price continues downtrend; European prices rise but could be near peak

[From: Fastmark MB]

Global:

Key notes:

Weak spot demand in the United States continued to weigh on the grade 5-5-3 delivered price, which fell to $0.91-94 per lb. The monthly spot price had fleetingly stabilized in November at $0.96-1.02 per lb.

Buyers remain well supplied with annual contract material priced below spot rates, while some are still using 2019 contracted supply.

Some domestic producers are said to be further cutting their prices to compete with cheap imports, although others are said to have set a floor on contract and spot business of $1 per lb.

China:

Key Notes:

The Chinese export market was quiet for the second consecutive week given that exporters received few inquiries.

Exporters, who still offered material, held prices firm at amid a tight spot supply, appreciation of the yuan against the dollar as well as higher domestic transportation fee before the Lunar New Year (January 24).