The silicon metal market in November 2024

Price Trend

Silicon metal prices remained generally stable in November. Price rebound depends on production cuts and futures price increases, otherwise, the market will continue to fluctuate at low levels.

Production Output

Total output: 406,760 tons, down 60,430 tons (12.93%) from last month and 16,260 tons (3.84%) year-on-year.

Top Producing Regions:

• Xinjiang: 228,100 tons (56.08% of total output), ranked first.
• Inner Mongolia: 36,470 tons (8.97% of total output), ranked second.
• Yunnan: 36,100 tons (8.88% of total output), ranked third.

Operating Rate

National: 334 furnaces operating, down 73 from last month and 118 year-on-year, operating rate at 47.11%, a decrease of 10.54%.

By Main Production Region:

• Xinjiang: 165 furnaces, up 2 from last month; operating rate at 75.34%, down 0.91%.
• Yunnan: 37 furnaces, down 49 from last month; operating rate at 26.81%, down 35.51%.
• Inner Mongolia: 31 furnaces, up 1 from last month; operating rate at 68.89%.
• Sichuan: 24 furnaces, down 36 from last month; operating rate at 21.82%, down 32.73%.

Downstream consumption in November:

• Polysilicon consumed 141,010 tons of silicon, a decrease of 19,352 tons month-on-month.
• Organosilicon consumed 106,600 tons of silicon, a decrease of 12,700 tons month-on-month.
• In October, the export consumed 65,117 tons of silicon, a decrease of 76 tons month-on-month. The November data of export and aluminium alloy has not been released yet, but I will provide an update to you soon.

Prediction in December

In November, the total production of industrial silicon has significantly decreased, with the main reductions occurring in Sichuan and Yunnan. Downstream organosilicon manufacturers have made slight production cuts in December, while polysilicon production cuts are more noticeable. It is expected that industrial silicon will continue to have an excess of about 20,000 tons in December, and there will still be no significant reduction in inventory. If a silicon plant in the northern region continues to cut production, it is expected that supply and demand will reach a certain balance.