Weak dollar lifts Chinese prices greatly

Silicon metal prices in China jumped during last week’s market assessment on recent currency moves against the dollar.

Silicon metal in China have raised up greatly 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 on Friday January 19, up 2.3% from previously. 
“The exchange rate of the Chinese yuan against the US dollar rose so quickly which means we technically lost money for business concluded earlier this week,” a trader said. 
The yuan was trading at 6.32 against the dollar as of 3pm on Jan.25th, compared with 6.5 two weeks ago.