Last week, the spot market price of silicon metal remained stable, but the overall market performance was slightly sluggish. The recovery of downstream demand is slow, and actual transactions are limited. Buyers mainly purchase at low prices according to their needs. On the supply side, there has been little change in the operating status of metal silicon plants in the northern region. Although a few silicon plants plan to resume production, there has not been a significant increase in output yet; The southern region continues to maintain low production levels and overall output remains stable.

In terms of demand, the rotating maintenance of organic silicon monomer factories has led to a reduction in overall supply, resulting in a corresponding decrease in demand for metallic silicon; The production of polycrystalline silicon plants is stable, mainly consuming existing inventory and purchasing metallic silicon as needed; Aluminum alloy factories are gradually resuming work and production, resulting in a slight increase in demand for silicon metal. Overall, although there are expectations of an increase on the supply side, the pace of demand recovery is slow and prices lack significant upward momentum. However, due to cost support, the price of silicon metal is expected to remain low and stable.

Affected by industry self-discipline, the monthly production schedule of polycrystalline silicon remains low. In addition, some low-priced orders from earlier periods were executed this month, resulting in a basic balance between monthly supply and demand in the polycrystalline silicon sector, and an overall trend of slow destocking. It is expected that the supply of polycrystalline silicon will slightly recover in March, but still not enough to meet the downstream load increase. Therefore, the polycrystalline silicon market will continue to focus on small destocking, and price stability will become the main theme of the current market.