According to the analysis of the Business Society Price Monitoring System, on January 6, 2026, the domestic market price of silicon metal #441 was referenced at 9,620 yuan/ton, remaining essentially flat compared to January 1. Against December 1 (when the market price of silicon metal #441 was 9,750 yuan/ton), the price decreased by 130 yuan/ton, marking a 1.33% decline.
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Supply and demand both weak, the silicon metal market remains stable this week
According to the commodity market analysis system of Business Society, the domestic metallurgical silicon spot market remained relatively stable this week (January 14-21), with minor fluctuations in market prices and a generally calm fundamental landscape. On January 21, the reference price for metallurgical silicon 441# in East China was around 9,300-9,500 yuan/ton, while the market price for oxygenated 553# was approximately 9,200-9,300 yuan/ton. The market price for #521 was referenced at 9,300-9,500 yuan/ton, and for 421#, it was approximately 9,500-9,800 yuan/ton.
Fundamental situation
Supply side: Recently, major industrial silicon producers in some regions still have plans to further reduce production and conduct maintenance, leading to a continued decline in overall market operating rates. The metal silicon market faces limited supply pressure, with no significant inventory reduction plans from factories.
On the demand side: In late January, downstream demand for metallurgical silicon remained weak. Major polysilicon manufacturers have recently announced production cuts and maintenance plans, while the organosilicon market has gradually reduced operating loads. Downstream purchasing activity remains relatively rational, and overall demand for metallurgical silicon has performed poorly. The weak supply-demand balance is unlikely to improve.
Post-market analysis
Currently, although the trading atmosphere in the metal silicon market remains relatively subdued, suppliers show limited willingness to offer at low prices, while downstream buyers exhibit cautious restocking behavior. The ongoing supply-demand dynamics persist. According to the metal silicon analyst at Business Society, the domestic metal silicon market is expected to experience minor fluctuations in the short term, with further developments largely dependent on supply-demand-related news updates.
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