Chinese ferrosilicon 75%min prices edge up
2023-03-06 08:33:22 [Print]
BEIJING (Asian Metal) 6 Mar 23 - Most suppliers lifted their prices because they expect an upcoming tight supply after a major producer suspended production early this week, while most consumers purchase as scheduled. Currently, the mainstream prices of Chinese ferrosilicon 75%min 200-500mm stand at RMB8,000-8,200/t (USD1,159-1,188/t) EXW D/P, up by RMB100/t (USD14/t) from early this week. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would stay flat in the coming week due to weak demand.
A producer from Shaanxi mentioned that they would like to sell ferrosilicon 75%min 200-500mm at RMB8,100/t (USD1,173/t) without any counteroffer today. "We sold 60t at this price today and sold 120t at RMB8,000/t (USD1,159/t) yesterday when we couldn't consider any lower price", revealed the producer, adding that most clients cut the dealing amount of single deal and they hardly received deals over 300t while whey easily closed deals of 300-500t a deal before a month. They believe that the mainstream prices of Chinese ferrosilicon 75%min would keep unchanged in the coming week for weak demand.
The producer, with an annual production capacity of 60,000t, plans to produce about 4,500t in March, in line with last month. They hold no inventory at the moment.
A consumer in Shaanxi disclosed, "the most competitive price of ferrosilicon 75%min 200-500mm they received which came from a local supplier today stood at RMB8,000/t (USD1,159/t) and they offered me RMB7,900/t (USD1,114/t) without any counteroffer yesterday". As they stopped production from yesterday and would resume next Monday for equipment maintenance, the producer didn't purchase today and last purchased 100t at RMB8,000/t (USD1,159/t) last Friday. They predict that the mainstream prices of Chinese ferrosilicon prices 75%min would remain stable in the following week given that most suppliers hold their price firm.
Based on the consumption capacity of 12,000tpy, the consumer expects to consume around 900t in March, on par with the previous month. They have nearly 30t in stock currently.
A producer from Shaanxi mentioned that they would like to sell ferrosilicon 75%min 200-500mm at RMB8,100/t (USD1,173/t) without any counteroffer today. "We sold 60t at this price today and sold 120t at RMB8,000/t (USD1,159/t) yesterday when we couldn't consider any lower price", revealed the producer, adding that most clients cut the dealing amount of single deal and they hardly received deals over 300t while whey easily closed deals of 300-500t a deal before a month. They believe that the mainstream prices of Chinese ferrosilicon 75%min would keep unchanged in the coming week for weak demand.
The producer, with an annual production capacity of 60,000t, plans to produce about 4,500t in March, in line with last month. They hold no inventory at the moment.
A consumer in Shaanxi disclosed, "the most competitive price of ferrosilicon 75%min 200-500mm they received which came from a local supplier today stood at RMB8,000/t (USD1,159/t) and they offered me RMB7,900/t (USD1,114/t) without any counteroffer yesterday". As they stopped production from yesterday and would resume next Monday for equipment maintenance, the producer didn't purchase today and last purchased 100t at RMB8,000/t (USD1,159/t) last Friday. They predict that the mainstream prices of Chinese ferrosilicon prices 75%min would remain stable in the following week given that most suppliers hold their price firm.
Based on the consumption capacity of 12,000tpy, the consumer expects to consume around 900t in March, on par with the previous month. They have nearly 30t in stock currently.
