On August 5, China’s Ministry of Industry and Information Technology (MIIT) posted a notice on its website detailing the performance of the domestic industrial silicon (metallic silicon) industry in the first half of 2022. Highlights are as follows:
In terms of supply and demand, the data from China Nonferrous Metals Industry Association reveal that the country’s domestic industrial silicon production totaled 1.436 million tons for the first half of 2022. This translates to a year-on-year growth of 26.9%. The domestic consumption of industrial silicon in the same period came to 1.092 million tons, showing a year-on-year growth of 24.4%. The demand from the domestic PV industry remains a significant driving force behind consumption growth.
In terms of price trends, data from China Nonferrous Metal Industry Association reveal that the average prices of the 553 metallic grade silicon and the 421 chemical grade silicon rose by 54.1% and 59.3% year on year to RMB 19,916 per ton and RMB 22,342 per ton respectively for the first half of 2022. On June 30, the prices of the 553 metallic silicon and the 421 chemical grade silicon respectively registered declines of 24.4% and 10.9% from their peaks within the first half-year period.
In terms of exports, the data from China’s General Administration of Customs reveal that the country’s export of industrial silicon reached 352,000 tons in the first half of 2022. This translates to a year-on-year decline of 12.6%.