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Asia silicon: 553-grade prices fall further to $1,770-$1,780/mt FOB

Singapore — The Platts China spot export assessment for 553-grade 98.5% silicon metalfell further this week to $1,770-$1,780/mt FOB basis on Thursday, from$1,790-$1,870/mt last week.

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Spot trade remained thin as market participants awaited fresh direction,while buy-sell indications fell, sources said.

Chinese offers were mostly heard at $1,780-$1,800/mt FOB on Thursday,with indicative bids heard at $1,780/mt and below, CIF Asia basis.

"Demand is very slow. There's not much queries. Prices are still ondowntrend, but not falling as much as earlier," a Zhejiang producer said."Prices are likely near bottom now as they are already near cost levels, so weexpect the levels can rebound in the near term."

A Xiamen producer agreed, adding that the market "is very messy now,export offers are weak, but we are selling mostly term, so can still get above$1,800/mt...we are also hearing lower offers at $1,780/mt, but didn't hearany trades done."

Another Xiamen producer reported receiving a bid from a Japanesepotential buyer at $1,780/mt CIF basis, after quoting at $1,800/mt FOB Chinathis week.

Slow demand was cited as the main factor weighing on silicon pricescurrently, but the downward movement could be limited in the near term due toprevailing environmental concerns, sources said.

--Yuencheng Mok, yuencheng.mok@spglobal.com

--Edited by Jeremy Lovell, jeremy.lovell@spglobal.com