Silicon Price Hike 2021
Silicon's 300% Surge Throws Another Price Shock at the World
1st October 2021, Bloomberg posted above article on the exponential increased in price of Silicon, by up to 300%! Needless to say this increased coupled with similarly drastic increases in freight and logistics costs have driven up prices of silicon and associated sealants used in the building and construction industry. Despite the abundance of crude silicon metals, Covid-19 and climate change initiatives have reduced production of crude and adding to this, the Chinese energy crunch and pollution control have all resulted in the almost vertical climb of prices as can be seen in the above Bloomberg chart.
Unless prices soften soon, we can expect to see more force majeure and downstream businesses having to fork out a lot more for these humble building consumables.
Headline and graph taken from Bloomberg.