Silicon’s 300% Surge Throws Another Price Shock at the World
A metal made from the second-most abundant element on Earth has become scarce, threatening everything from car parts to computer chips and throwing up another hurdle for the world economy.The shortage in silicon metal, sparked by a production cut in China, has sent prices up 300% in less than two months. It’s the latest in a litany of disruptions, from snarled supply chains to a power crunch that are creating a destructive mix for companies and consumers.
UK Silicon Dioxide Price Soars to $4,581 per Ton
In March 2023, the silicon dioxide price stood at $4,581 per ton (FOB, United Kingdom), growing by 51% against the previous month. Over the period from March 2022 to March 2023, it increased at an average monthly rate of +2.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was Sweden ($21,201 per ton), while the average price for exports to Thailand ($748 per ton) was amongst the lowest. From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.
Prices varied noticeably by the country of destination: the country with the highest price was Sweden ($21,201 per ton), while the average price for exports to Thailand ($748 per ton) was amongst the lowest. From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.
United Kingdom Silicon Dioxide Exports
In March 2023, approximately 1.8K tons of silicon dioxide were exported from the UK; waning by -24.4% compared with the previous month's figure. In general, exports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in February 2023 with an increase of 51% month-to-month. In value terms, silicon dioxide exports expanded rapidly to $8.1M (IndexBox estimates) in March 2023. Overall, exports recorded a noticeable curtailment. The growth pace was the most rapid in February 2023 when exports increased by 26% m-o-m.
United Kingdom Silicon Dioxide Exports by Country
Belgium (298 tons), the United States (252 tons) and Thailand (247 tons) were the main destinations of silicon dioxide exports from the UK, together accounting for 45% of total exports. China, Poland, India, Italy, the Netherlands, Mexico, Sweden, Bulgaria, Oman and Ireland lagged somewhat behind, together accounting for a further 43%. From March 2022 to March 2023, the biggest increases were in Ireland (with a CAGR of +6.0%), while shipments for the other leaders experienced more modest paces of growth. In value terms, the largest markets for silicon dioxide exported from the UK were Belgium ($1.7M), the United States ($1.2M) and Sweden ($973K), with a combined 47% share of total exports. Among the main countries of destination, Sweden, with a CAGR of +13.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Source: https://www.indexbox.io/blog/united-kingdom-silicon-dioxide-price-in-march-2023/
