South Korean silicon metal prices steady

South Korean silicon metal prices held steady as purchasing costs remained firm and demand was weak. Currently, the mainstream silicon metal 4-4-1 price hovers between $1,580 and $1,610 per ton, unchanged from last week. Given the sluggish demand, industry insiders expect Korean silicon metal prices to remain stable in the coming week.

"Our current offer for si 4-4-1 remains at $1,590 / ton, unchanged from last week's base price, and we do not accept a lower price," said a Korean trader. In the middle of last week, we sold 60 tons at $1,590 per ton." They have only received three enquiries and made two transactions this month. Their suppliers' prices have risen, and they have had to raise them because the renminbi has fallen. Most suppliers start their holidays in a week's time, so they have no intention of taking more orders this month. Citing weak demand, the trader expects Korean silicon metal prices to stabilize in the coming week. The trader, which normally trades 500 tons a month and has no inventory, expects to trade about 200 tons in January, down 100 tons from the previous month.

"We are currently trading at $1,580 / ton for si 4-4-1, unchanged from last week's base price and not accepting a counter-offer," said another Korean trader. They traded 20 tons at that price last week, but received no order. At the same time, their suppliers refused to sell at low prices and were reluctant to close deals because of the upcoming holiday. Because of weak demand, they are not buying, leaving only a small amount of inventory to keep regular customers supplied. This person expects Korea metal silicon price to stabilize in the coming week.

The trader normally trades 200 tons a month and now holds 20 tons of inventory. No orders were received last month. It is expected to trade about 40 tons this month.