GLOBAL SILICON WRAP: VAT cut improves sentiment in China’s export market; European prices slightly higher

The price of silicon in China’s export market was steady in the week ended Friday March 8, with increased spot activity and an upcoming cut to the rate of value-added tax (VAT) paid by Chinese manufacturers of metals and minerals said to have bolstered market sentiment.

Sentiment improves in China’s export market, prices steady European grade 553 silicon price ticks up, grade 441 equivalent flat US market slips on weak demand, ample supply Fastmarkets assessed the export price for grade 553 silicon in China at $1,550-1,610 per tonne on March 8, unchanged from the prior week. Most deals concluded over the past week fell within the published range. Spot activity was said to have increased this past week amid improved buying interest from South Asian participants, with Chinese market sources noting a higher number of inquiries from buyers and traders in that region. “I offered at $1,600 per tonne this week. I heard that some traders sold their materials at $1,570 per tonne,” a Chinese trader source said. Although Chinese market sources said there had not been a significant uptick in demand from European participants, they agreed that sentiment in the Chinese export market has been boosted by tightened...

Published

Cristina Belda

Huaqing Fu

Orla O'Sullivan

March 12, 2019

03:55 GMT

New York, London, Shanghai