Silicon metal highlights

摘要

US silicon metal spot prices have improved this month, rising to $1.38-1.40/lb after slipping back to $1.35-1.39/lb last month. We have heard reports of US silicon metal prices as high as $1.44/lb. Reduced shipments of Brazilian silicon metal to the USA have been cited as behind the recent pricing gains, but our analysis of both US and Brazilian trade data does not support this claim. Brazilian producers are reducing silicon metal output as the government encourages major industrial power users to sell power back to the grid, and we expect this to remain a feature of the market for the next month at least with the World Cup underway in Brazil. US trade data, however, does not concur with anecdotal reports of reduced US silicon metal imports this year, particularly imports from Brazil.