Overview of the organic silicon market on May 6th: The domestic DMC market as a whole shows a stable to strong trend. In April, DMC supply became tight due to reduced production and methanol costs, and prices steadily rose. The current market average price is reported at 14900 yuan/ton, a significant increase of 700 yuan/ton from early April. On the first trading day after the holiday, the market was mostly wait-and-see, with both buyers and sellers waiting patiently for guidance from the industry conference on the 9th. At present, individual manufacturers have abundant pre-sale orders, and their external quotations are basically stable. The actual focus of negotiations tends to be high-end. Downstream enterprises adopt a strategy of buying at low prices in moderation, and the overall trading atmosphere for new orders is relatively flat. Looking ahead to the future, it is expected that the short-term DMC price will maintain a stable, medium to strong operating rhythm. From the perspective of supply and demand, the delivery of pre-sale orders from individual factories has led to tight spot circulation, coupled with the obvious price raising mentality of manufacturers, providing support for prices. However, with the gradual increase in the proportion of exports, there is a possibility of easing the tight spot market situation in the second half of May.
On May 5th, Elkem ASA announced the latest personnel changes and significant financial progress of its board of directors. At the annual shareholders' meeting held on April 30th, the company elected five new directors elected by shareholders, including the outgoing CEO Helge Aasen, whose directorship will officially take effect from the date of retirement. During this transitional period, Marianne E. Johnsen was appointed as the interim chairman of the board of directors.
The announcement shows that the Shanghai Financial Court recently issued a "Civil Mediation Agreement", requiring ST Hongda to compensate investor Zhou Moulin for a loss of 8.02 million yuan. As of now, the company has received a total of 235 related cases, involving a total amount of approximately 30.07 million yuan, and the final settlement or judgment amount is approximately 28.3 million yuan. In addition, ST Hongda also disclosed the progress of three other adjudicated lawsuits, involving sales contracts, lease disputes, and creditor subrogation disputes, with amounts involved of approximately 4.49 million, 1.54 million, and 8.48 million yuan, respectively. Among them, due to the delayed payment of 8.48 million yuan in the subrogation case, the company has been listed as a dishonest debtor and some of its equity is facing auction. Regarding the investor claim case, ST Hongda stated that the relevant funds have already been accrued as estimated liabilities in previous years, and will be accounted for based on the execution situation in the future. The final impact will be subject to the financial report.