Trichlorosilane prices in the USA is forecasted to further decrease by November-end 2025 after a slight decline of 0.4% in October toward CFR Houston. Chinese feedstock silicon metal prices have tumbled this month, making world’s largest exporter able to cut production costs on a big scale among a swathe of bearish forces are converging. Simultaneously, Transpacific freight rates have plummeted. In an effort to head off any freight gains, carriers are backing off on blank sailings next week and will add more vessel space. Aggressive end-of-season destocking by Chinese producers and US importers, combined with typical November weakness in polysilicon demand prior to maintenance, will compound the bearish pressure. TSMC’s robust Oct revenue (+11% MoM, +16.9% YoY) notwithstanding, sequential semiconductor end demand is typically weak in Nov. Traders predict a decline to Trichlorosilane CFR Houston, with a risk of the low-500s by the beginning of December if export offers continue to deteriorate.
