Chinese ferrosilicon 75%min weakly stable
2023-03-02 08:42:52 [Print]
BEIJING (Asian Metal) 2 Mar 23 - Though the downstream demand remains weak, most suppliers held their prices unchanged from yesterday because they believe that the supply would shrink after a major producer suspended production from early this month. Currently, the mainstream prices of Chinese ferrosilicon 75%min 200-500mm stand temporarily stable at RMB7,900-8,100/t (USD1,144-1,173/t) EXW D/P from yesterday. As most suppliers expect that the supply would shrink and some suppliers already lifted their offers to test the market, insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would edge up within this week
A consumer from Shanxi disclosed "We received some quotations of ferrosilicon 75%min 200-500mm in the past two days and the best one stands at RMB8,100/t (USD1,173/t) EXW D/P with a concession as much as RMB100/t (USD1,173/t)". They didn't purchase today and last purchased 200t at RMB7,900/t (USD1,114/t) last Thursday. The producer believes that the mainstream prices of Chinese ferrosilicon 75%min would move up slightly by the end of this week due to the coming decreased supply.
The consumer, with an annual consumption capacity of 36,000t, expects to consume about 2,400t in March, in line with last month. They hold an inventory of approximately 600t currently.
Another consumer in Inner Mongolia mentioned that the most competitive quotation of ferrosilicon 75%min 200-500mm they received from a local supplier today stands at RMB8,100/t (USD1,173/t) Delivered D/P with the freight of RMB100/t (USD14/t), and the supplier could probably accept a counteroffer as much as RMB100/t (USD14/t). "We didn't purchase today and last purchased 500t at RMB8,000/t (USD1,158/t) delivered last Friday. Suppliers insisted on such price from late last week", the consumer revealed. They predict that the mainstream prices of Chinese ferrosilicon 75%min would increase within this week encouraged by shrinking supply.
Based on the annual consumption capacity of 180,000t, the consumer plans to consume around 8,000t in March, on par with the previous month. They have nearly 1,000t in stock at the moment.
A consumer from Shanxi disclosed "We received some quotations of ferrosilicon 75%min 200-500mm in the past two days and the best one stands at RMB8,100/t (USD1,173/t) EXW D/P with a concession as much as RMB100/t (USD1,173/t)". They didn't purchase today and last purchased 200t at RMB7,900/t (USD1,114/t) last Thursday. The producer believes that the mainstream prices of Chinese ferrosilicon 75%min would move up slightly by the end of this week due to the coming decreased supply.
The consumer, with an annual consumption capacity of 36,000t, expects to consume about 2,400t in March, in line with last month. They hold an inventory of approximately 600t currently.
Another consumer in Inner Mongolia mentioned that the most competitive quotation of ferrosilicon 75%min 200-500mm they received from a local supplier today stands at RMB8,100/t (USD1,173/t) Delivered D/P with the freight of RMB100/t (USD14/t), and the supplier could probably accept a counteroffer as much as RMB100/t (USD14/t). "We didn't purchase today and last purchased 500t at RMB8,000/t (USD1,158/t) delivered last Friday. Suppliers insisted on such price from late last week", the consumer revealed. They predict that the mainstream prices of Chinese ferrosilicon 75%min would increase within this week encouraged by shrinking supply.
Based on the annual consumption capacity of 180,000t, the consumer plans to consume around 8,000t in March, on par with the previous month. They have nearly 1,000t in stock at the moment.
