Weekly Market Overview: Silica Ore, Silicon Coal, Petroleum Coke & Electrodes
The upstream silicon industry chain remained largely stable last week, with prices holding steady across most segments. While supply reductions are expected in certain regions due to seasonal shutdowns, overall demand remains relatively subdued, resulting in a short-term equilibrium characterized by “weak supply and weak demand.”
Silica Ore: Stable Prices Amid Expected Winter Maintenance
Last week, silica ore prices remained generally stable.
Current Ex-Factory Prices (Mine Gate):
- Hubei (high-grade silica ore): RMB 310–350/ton
- Inner Mongolia (high-grade silica ore): RMB 290–330/ton
- Yunnan (low-grade silica ore): RMB 150–180/ton
Market Dynamics:
Demand Side:
- Northern silicon plants have completed winter stockpiling.
- Silicon plants in Southwest China maintain unchanged operating rates.
- Overall downstream demand remains stable but limited.
Supply Side:
- Some silica mining enterprises are expected to enter winter maintenance starting in February.
- Supply is likely to contract gradually.
Under the current situation of soft supply and soft demand, short-term silica ore prices are expected to remain stable.
Silicon Coal: Regional Divergence in Supply
Last week, silicon coal prices in Shaanxi declined slightly, while other regions remained stable.
Price Overview:
- Shaanxi: RMB 820–900/ton
- Xinjiang (non-caking silicon coal): ~RMB 855/ton
- Xinjiang (caking silicon coal): RMB 1,300–1,650/ton
- Inner Mongolia: ~RMB 1,260/ton
- Gansu (mixed silicon coal): ~RMB 930/ton
- Gansu (granular coal): ~RMB 1,050/ton
Supply Conditions:
Regional differences are evident:
- Some coal washing plants in Ningxia and Shaanxi have begun holiday shutdowns, leading to reduced supply.
- In Gansu and Xinjiang, several washing plants remain in normal operation, maintaining production based on actual sales demand.
Overall, supply-side contraction is limited and uneven across regions.
Petroleum Coke: Trading Momentum Softens
Last week, domestic petroleum coke shipments were generally acceptable, but trading sentiment weakened toward the latter part of the week.
Price Indicators (SMM Data):
- Northeast 1# Petroleum Coke Index: RMB 4,387.32/ton (stable)
- Shandong 4# Petroleum Coke Index: RMB 1,736.53/ton (+0.73%)
Formosa Plastics coke market prices remained stable, with mainstream transactions concentrated at:
- RMB 1,200–1,250/ton
Market Trend:
Domestic petroleum coke showed a “rise-then-stabilize” pattern last week. In the second half of the week:
- Downstream procurement enthusiasm weakened.
- Pre-holiday stocking demand provided limited support.
- Purchasing activity remained focused on rigid replenishment needs.
Petroleum coke prices are expected to fluctuate within a consolidation range this week.
Electrodes: Prices Remain at Low Levels
The silicon-use electrode market remained weak but stable.
Although upstream petroleum coke prices have shown upward pressure recently, weak downstream demand continues to limit price increases in the electrode market.
Current Market Quotations:
Ordinary Power Carbon Electrodes
- Ø960–1100mm: RMB 6,400–6,800/ton
- Ø1272mm: RMB 7,200–7,600/ton
Ordinary Power Graphite Electrodes
- Ø960–1100mm: RMB 10,800–11,200/ton
- Ø1272mm: RMB 12,200–12,800/ton
- Ø1320mm: RMB 12,800–14,200/ton
Price momentum remains constrained by limited downstream purchasing activity, and short-term stability is expected.
Market Outlook
Across the upstream silicon raw material chain:
- Silica ore prices remain stable with expected supply tightening in February.
- Silicon coal shows regional supply differentiation.
- Petroleum coke trading momentum has softened.
- Electrodes remain under demand pressure.
With pre-holiday procurement nearing completion and winter maintenance gradually unfolding, the market is expected to maintain a stable but subdued trajectory in the short term.
