Average silicon prices in the U.S. 2018-2023, by type

In 2023, the average price of ferrosilicon with 75% silicon content came to 150 U.S. cents per pound, and silicon metal prices averaged 190 U.S. cents per pound. Silicon alloys and metals are important in various industries. Ferrosilicon is commonly used in ferrous foundries and steel industries, whereas silicon metal is often used for aluminum, aluminum alloys, and the chemical industry. Silicon is also often used for semiconductors in solar panels, computer chips, and as a part of the automotive industry.

Silicon facts

Pure silicon appears as a blue-grey metallic solid. Silicon is most commonly found paired with oxygen, forming silica. China produces a large percentage of the world’s silicon supply, contributing to about 6.6 million metric tons in 2023. In comparison, Russia – the second largest producer worldwide – produced about 620,000 metric tons in the same year.

U.S. silicon exports and consumption

About 40,000 metric tons of silicon metal and 6,000 metric tons of ferrosilicon were exported from the United States in 2023. Meanwhile, consumption of silicon in the North American country averaged roughly 480,000 metric tons in recent years. Silicon is a diverse element, accounting for about 30 percent of the Earth’s crust and is one of the most abundant elements. Its versatility affords great use from the industrial sector. It is commonly used in the electronics industry, as part of cylinder heads or machine tools. It is also used in the commercial sector, for example, as an oil in cosmetics and hair conditioners.