Chinese ferrosilicon 72%min prices stable
2023-03-03 08:34:50 [Print]
BEIJING (Asian Metal) 3 Mar 23 - Most suppliers stayed in no hurry to sell and held their prices unchanged from early this week as steel mills would start to purchase since middle of the month while the raw material prices stand high. Currently, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand firm at RMB7,800-8,000/t (USD1,133-1,162/t) EXW D/P from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would keep flat within this week.
A producer in Ningxia disclosed, "Our best price of ferrosilicon 72%min 10-50mm stands at RMB7,900/t (USD1,147/t) EXW D/P and we insisted on this price from early this week". They didn't close any deal today and last sold 500t at RMB7,900/t (USD1,147/t) late last week. The producer, who purchased semi coke weekly and bought 800t early this week, further revealed that the semi coke price stood stable at RMB1,500/t (USD218/t) EXW this week while the price stood at RMB1,200/t (USD174/t) EXW early last week. They plan to stick to their current price till steel mills start to purchase and believe that the mainstream prices of Chinese ferrosilicon 72%min would stay firm by the end of this week.
The producer, with an annual production capacity of 86,500t, plans to produce about 3,000t in March with one 33,000kVA furnace under operation, in line with last month. They don't have any inventory currently.
A trader from Ningxia mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB8,000/t (USD1,162/t) EXW D/P and couldn't consider any price lower than RMB7,900/t (USD1,147/t). "We didn't close any deal today and last sold 400t at RMB8,000/t (USD1,162/t) two weeks ago", noted the trader. They added that they stay in no hurry to sell now and prefer to wait for orders from steel mills. Meanwhile, most of their suppliers hold prices firm currently. So they predict that the mainstream prices of Chinese ferrosilicon 72%min would keep unchanged within this week.
Based on the regular monthly trading volume of 1,000t, the trader expects to sell around 1,000t in March, up by 400t from the previous month for weak demand in February. They hold nearly 400t in stock at the moment.
A producer in Ningxia disclosed, "Our best price of ferrosilicon 72%min 10-50mm stands at RMB7,900/t (USD1,147/t) EXW D/P and we insisted on this price from early this week". They didn't close any deal today and last sold 500t at RMB7,900/t (USD1,147/t) late last week. The producer, who purchased semi coke weekly and bought 800t early this week, further revealed that the semi coke price stood stable at RMB1,500/t (USD218/t) EXW this week while the price stood at RMB1,200/t (USD174/t) EXW early last week. They plan to stick to their current price till steel mills start to purchase and believe that the mainstream prices of Chinese ferrosilicon 72%min would stay firm by the end of this week.
The producer, with an annual production capacity of 86,500t, plans to produce about 3,000t in March with one 33,000kVA furnace under operation, in line with last month. They don't have any inventory currently.
A trader from Ningxia mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB8,000/t (USD1,162/t) EXW D/P and couldn't consider any price lower than RMB7,900/t (USD1,147/t). "We didn't close any deal today and last sold 400t at RMB8,000/t (USD1,162/t) two weeks ago", noted the trader. They added that they stay in no hurry to sell now and prefer to wait for orders from steel mills. Meanwhile, most of their suppliers hold prices firm currently. So they predict that the mainstream prices of Chinese ferrosilicon 72%min would keep unchanged within this week.
Based on the regular monthly trading volume of 1,000t, the trader expects to sell around 1,000t in March, up by 400t from the previous month for weak demand in February. They hold nearly 400t in stock at the moment.
