Pre-holiday stockpiling demand combined with cost support from holders drives silicon metal prices to stabilize and rebound [SMM Silicon Industry Weekly Review]

[Pre-holiday stockpiling demand and supplier cost support stabilize and rebound silicon metal prices]: This week, spot and futures prices of silicon metal stabilized and rebounded. As of September 24, SMM oxygen-blown #553 silicon in east China was at 9,400-9,500 yuan/mt, up 100 yuan/mt WoW, and #441 silicon was at 9,500-9,600 yuan/mt, up 50 yuan/mt WoW. In the futures market, the SI2611 contract stabilized and rebounded during the week, initially pulling back to around 8,410 yuan/mt early in the week before stabilizing. Mid-week, pre-holiday downstream restocking demand and cost support boosted sentiment, driving a consolidating rebound. It closed at 8,530 yuan/mt on Thursday afternoon, up 85 yuan/mt WoW. In terms of market quotes and transactions, with the two holidays approaching, downstream pre-holiday restocking and export demand increased. Coupled with rising freight costs, spot-futures price spread quotes in Tianjin and east China were pushed higher. Some silicon suppliers raised quotes slightly WoW, and silicon enterprises' sentiment to hold prices firm recovered from earlier levels. Low-priced supply in the market tightened WoW, trading activity recovered, and the price center stabilized and rebounded.