Chinese ferrosilicon 72%min prices flat
2023-03-02 08:42:42 [Print]
BEIJING (Asian Metal) 2 Mar 23 - In spite of inactive market, most producers held their prices unchanged for high raw material prices from yesterday. Currently, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand firm at RMB7,800-8,000/t (1,130-1,158/t) EXW D/P from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would stay flat within this week supported by high raw material prices.
A producer in Shaanxi mentioned that they planned to sell ferrosilicon 72%min 200-500mm at RMB7,700/t (USD1,115/t) EXW D/P without any counteroffer. "We sold 33t at RMB7,700/t (USD1,115/t) today and last sold 100t at this price early last week. We insisted on such price from early this week", the producer noted. They believe that the mainstream prices of Chinese ferrosilicon 72%min would remain stable by the end of this week given sluggish demand but high raw material prices.
The producer, with an annual production capacity of 60,000t, plans to produce about 5,000t in March, in line with last month. They don't have stock currently.
Another producer from Ningxia disclosed, "Our offer for ferrosilicon 72%min 10-50mm stands at RMB8,000/t (USD1,158/t) EXW D/P and we wouldn't consider any price lower than RMB7,800/t (USD1,130/t) from early this week." They didn't close any deal today and last sold 200t at RMB8,000/t (USD1,158/t) two weeks ago. The producer further revealed that they received three or four inquiries a day this week while received seven to eight a day before the Spring Festival holiday. Tthey predict that the mainstream prices of Chinese ferrosilicon 72%min would keep firm within this week supported by weak demand and high raw material prices.
Based on the production capacity of 90,000tpy, the producer expects to produce around 5,400t in March, up by 900t from the previous month for limited deals last month. They hold no inventory at the moment.
A producer in Shaanxi mentioned that they planned to sell ferrosilicon 72%min 200-500mm at RMB7,700/t (USD1,115/t) EXW D/P without any counteroffer. "We sold 33t at RMB7,700/t (USD1,115/t) today and last sold 100t at this price early last week. We insisted on such price from early this week", the producer noted. They believe that the mainstream prices of Chinese ferrosilicon 72%min would remain stable by the end of this week given sluggish demand but high raw material prices.
The producer, with an annual production capacity of 60,000t, plans to produce about 5,000t in March, in line with last month. They don't have stock currently.
Another producer from Ningxia disclosed, "Our offer for ferrosilicon 72%min 10-50mm stands at RMB8,000/t (USD1,158/t) EXW D/P and we wouldn't consider any price lower than RMB7,800/t (USD1,130/t) from early this week." They didn't close any deal today and last sold 200t at RMB8,000/t (USD1,158/t) two weeks ago. The producer further revealed that they received three or four inquiries a day this week while received seven to eight a day before the Spring Festival holiday. Tthey predict that the mainstream prices of Chinese ferrosilicon 72%min would keep firm within this week supported by weak demand and high raw material prices.
Based on the production capacity of 90,000tpy, the producer expects to produce around 5,400t in March, up by 900t from the previous month for limited deals last month. They hold no inventory at the moment.
