Last week, the spot market price of silicon metal remained stable. The Spring Festival holiday has just passed, and the market activity is relatively low. There are few manufacturer quotes and market inquiries, and many parties are adopting a wait-and-see attitude.
On the supply side, metal silicon manufacturers maintained stable production during the Spring Festival period. The northern region has become the main supplier, while the southern region is in a dry season with low operating rates and lower levels than the same period in previous years. Overall, the production in January has decreased compared to December.

On the demand side, most organic silicon monomer factories operate normally during the Spring Festival period, resulting in an increase in production and a corresponding slight increase in demand for metallic silicon. However, the overall operating rate of polycrystalline silicon and aluminum alloy enterprises has slightly declined, leading to a decrease in demand for metallic silicon. This change has made the supply and demand relationship in the silicon metal market more balanced.
Although the reduction in supply has alleviated inventory pressure to some extent, the current inventory is still high and difficult to dispose of. The large factories in the north plan to resume production after the holiday, and the output may increase, but there is no significant increase in demand. Therefore, the price of silicon metal lacks upward momentum and is expected to mainly fluctuate at the bottom in the short term.
Overall, the performance of the silicon metal market in the week after the holiday reflects the current supply-demand balance in the market and the cautious attitude of enterprises towards future market trends. In the foreseeable future, the market will continue to search for new price equilibrium points in the supply-demand balance.