Import prices of ferrosilicon in Japan down
2023-03-08 08:31:13 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Dragged by the softening prices from international suppliers, the current mainstream import prices of ferrosilicon 75%min 10-50mm in Japan edged down by USD30/t to USD1,530-1,560/t CIF Japan from early last week. Given the softening prices from international supplier, insiders predict the mainstream import prices of ferrosilicon 75%min 10-50mm in Japan would go down further next week.
A trader in Japan disclosed that he bought 100t of ferrosilicon 75%min 10-50mm at USD1,540/t CIF Japan on Tuesday from a regular Chinese supplier who insisted on USD1,570/t since early last week. "Over half of Chinese suppliers decreased prices slightly upon the depreciating CNY and dropped prices in China," revealed the trader on Tuesday. As some Chinese suppliers still hold bearish attitudes toward the outlook and could consider more discount, he predicts the mainstream import prices of Chinese ferrosilicon 75%min in Japan would go down further.
Based on a regular monthly ferrosilicon import volume of around 500t, the trader predicts to import around 300t in March, down by about 100t from last month, holding around 300t in stock.
Another trader in Japan disclosed that the current mainstream import offer of Malaysian ferrosilicon 75%min stands at USD1,580/t CIF Japan and he could get the discount of USD20/t at most for firm bids over 100t, while the supplier insisted on USD1,580/t early last week. "I last purchased 200t at USD1,600/t CIF in the middle of February, and I still keep waiting and hang up purchase now upon my sufficient stocks and negative attitudes towards the steel mills' consumption in Japan," disclosed the trader on Tuesday. Along with the softening prices from China, he foresees the mainstream import prices of Malaysian ferrosilicon 75%min 10-50mm in Japan would edge down further next week.
The trader, based on a regular monthly ferrosilicon import volume of around 1,000t, expects to import around 500t in March, down by about 300t from last month upon his enough stocks, holding around 1,000t in stock.
A trader in Japan disclosed that he bought 100t of ferrosilicon 75%min 10-50mm at USD1,540/t CIF Japan on Tuesday from a regular Chinese supplier who insisted on USD1,570/t since early last week. "Over half of Chinese suppliers decreased prices slightly upon the depreciating CNY and dropped prices in China," revealed the trader on Tuesday. As some Chinese suppliers still hold bearish attitudes toward the outlook and could consider more discount, he predicts the mainstream import prices of Chinese ferrosilicon 75%min in Japan would go down further.
Based on a regular monthly ferrosilicon import volume of around 500t, the trader predicts to import around 300t in March, down by about 100t from last month, holding around 300t in stock.
Another trader in Japan disclosed that the current mainstream import offer of Malaysian ferrosilicon 75%min stands at USD1,580/t CIF Japan and he could get the discount of USD20/t at most for firm bids over 100t, while the supplier insisted on USD1,580/t early last week. "I last purchased 200t at USD1,600/t CIF in the middle of February, and I still keep waiting and hang up purchase now upon my sufficient stocks and negative attitudes towards the steel mills' consumption in Japan," disclosed the trader on Tuesday. Along with the softening prices from China, he foresees the mainstream import prices of Malaysian ferrosilicon 75%min 10-50mm in Japan would edge down further next week.
The trader, based on a regular monthly ferrosilicon import volume of around 1,000t, expects to import around 500t in March, down by about 300t from last month upon his enough stocks, holding around 1,000t in stock.
