According to the market monitoring system of SunSirs, the domestic market price for #441 silicon metal was 9,300 RMB/ton on August 11, 2026; compared to the price on August 1 (9,280 RMB/ton), this represents an increase of 20 RMB/ton, or 0.22%.

Market Analysis

Since the beginning of August, the domestic market for 441# grade silicon metal has generally remained stable before experiencing a slight upward adjustment. Early in the month, the market held steady with minimal fluctuation; however, on August 11, prices saw a modest rise, with some regions increasing quotes by approximately 50 RMB/ton. As of August 11, the reference price for domestic 441# silicon metal stood in the range of 9,000-9,450 RMB/ton.

Fundamentals

On the supply side: Recently, the overall supply of silicon metal has contracted. Production cuts or scheduled maintenance at facilities in certain regions have lowered the industry-wide operating rate. This tightening of supply has provided market support, driving prices upward.

On the demand side: Currently, the downstream silicone sector is continuing its trend of production cuts aimed at easing cutthroat competition; the overall operating rate in this sector is expected to decline, leading to reduced demand for silicon metal. However, with the arrival of the peak "Golden September" season, demand from the downstream polysilicon sector is likely to see some growth. Demand from the downstream aluminum alloy ingot market remains largely stable. The supply-demand dynamic for silicon metal is showing signs of slight improvement.

Market Outlook

Currently, trading activity in the silicon metal market remains subdued, and it remains to be seen whether inventory reduction in the spot market and market demand will show sustained improvement. However, supported by production costs, the market shows some momentum for bottoming out. In the short term, domestic silicon metal prices are expected to trend steadily with an upward bias; specific developments to watch include the resumption of production in certain regions and downstream operating rates.

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