China’s silicon metal market reopened after the holiday with slightly firmer spot prices, while futures gave back most of an early advance. On October 15, oxygen-blown #553 silicon in eastern China was quoted at 9,450-9,550 yuan per tonne and #441 at 9,500-9,700 yuan, each up 50 yuan from the previous week. #3303 silicon held at 10,100-10,300 yuan per tonne.
The SI2611 contract opened at 8,505 yuan per tonne on October 8, climbed to 8,750 during the week and then fell to 8,495 yuan on October 15. The retreat followed a rapid rise and came as weaker demand expectations offset support from tight spot availability, firm offers from northern producers and the approach of wetter and drier seasonal conditions in Sichuan and Yunnan.
Supply conditions continued to support the physical market. Electricity costs were stable, but higher transport costs for raw materials and finished metal increased production expenses. Buyers mainly used existing stocks or replenished only for immediate requirements, leaving overall liquidity subdued.
Demand signals were mixed. Producers raised offers, yet large-scale transactions had not followed, while inventories and costs continued to constrain downstream buyers.
Silicone operating rates were stable as manufacturers delivered earlier orders, but new-order negotiations remained slow. Aluminum-silicon alloy activity improved from the previous month as secondary aluminum producers returned toward pre-holiday operating levels, although the seasonal boost to silicon metal demand was modest. Limited purchasing and high inventories capped gains even as expected polysilicon cuts strengthened cost support.