Oil prices have skyrocketed! Gold prices are falling!
Due to heightened concerns in the market about the escalating tensions in the Middle East, international crude oil futures prices rose during trading on June 1st, with gains exceeding 6% at one point. As of the close of the day, the price of light crude oil futures for July delivery on the New York Mercantile Exchange rose by $4.80, closing at $92.16 per barrel, an increase of 5.49%; The London Brent crude oil futures price for delivery in August rose by $3.86 to close at $94.98 per barrel, an increase of 4.24%.
Due to the escalating tensions in the Middle East, international gold prices accelerated their decline during trading on June 1st. The August gold futures price on the New York Mercantile Exchange fell to around $4455 per ounce, a drop of nearly 2.5%.
Summary of Organic Silicon Market on June 2nd:
Recently, the domestic DMC market has shown a weak consolidation trend. According to the latest monitoring data, the average price in the national market remains at 14400 yuan/ton, which has not fluctuated compared to the closing price of the previous trading day, indicating a lack of significant upward or downward driving force in the market in the short term.
From the perspective of the mentality of both parties in the transaction, the current buyer and seller are in a stalemate and confrontation. Affected by the mentality of "buying up instead of buying down", downstream users generally adopt a wait-and-see attitude and remain cautious about future trends, resulting in a relatively low willingness to inquire and actual purchasing actions, and an overall inactive trading atmosphere in the market.
On the production side, most individual manufacturers are still focused on completing the backlog of orders in the early stage, and the transaction atmosphere for new orders is relatively light. Based on the current supply and demand pattern and market sentiment analysis, it is expected that the DMC market price will show a narrow downward trend in the short term, and the decline will not be too significant, but downward pressure still exists.