Chinese ferrosilicon 75%min prices slip
2023-03-08 08:42:47 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Due to sluggish demand from the downstream, most suppliers held negative attitude and lowered their price. The current mainstream prices of Chinese ferrosilicon 75%min 200-500mm move down to RMB7,900-8,100/t (USD1,139-1,168/t) EXW D/P, down by RMB100/t (USD14/t) from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would drop further within this week for inactive market.
A producer from Northern China disclosed, "Our current offer for ferrosilicon 75%min 200-500mm stands at RMB8,000/t (USD1,153/t) EXW D/P without any counteroffer". They sold 60t at RMB8,000/t (USD1,153/t) today and sold 30t at RMB8,100/t (USD1,168/t) yesterday when they insisted on this price. The producer further revealed that they hardly received orders over 100t in the past two weeks while they easily received orders of 300t to 500t before mid of last month. They believe that the mainstream prices of Chinese ferrosilicon 75%min would decrease by the end of this week dragged by sluggish demand from the downstream.
The producer, with an annual production of 80,000t, plans to produce about 3,000t with one 40,500kVA furnace under operation in March, down by 1,000t from last month for weak demand. They don't have any inventory currently.
A consumer in Northern China mentioned that the most competitive price of ferrosilicon 75%min 200-500mm they received today stood at RMB7,900/t (USD1,139/t) EXW D/P. "We didn't purchase today because we hold enough stocks for around 20 days consumption and last purchased 1,000t at RMB7,950/t (USD1,146/t) early last week", noted the consumer, adding that the best price they received yesterday stood at RMB8,000/t (USD1,153/t). They hold pessimistic attitude towards the market and predict that the mainstream prices of Chinese ferrosilicon 75%min would edge down by the end of this week discouraged by weak demand from the end market.
Based on the consumption capacity of 24,000tpy, the consumer expects to consume around 2,000t in March, in line with the previous month. They hold nearly 1,500t in stock currently.
A producer from Northern China disclosed, "Our current offer for ferrosilicon 75%min 200-500mm stands at RMB8,000/t (USD1,153/t) EXW D/P without any counteroffer". They sold 60t at RMB8,000/t (USD1,153/t) today and sold 30t at RMB8,100/t (USD1,168/t) yesterday when they insisted on this price. The producer further revealed that they hardly received orders over 100t in the past two weeks while they easily received orders of 300t to 500t before mid of last month. They believe that the mainstream prices of Chinese ferrosilicon 75%min would decrease by the end of this week dragged by sluggish demand from the downstream.
The producer, with an annual production of 80,000t, plans to produce about 3,000t with one 40,500kVA furnace under operation in March, down by 1,000t from last month for weak demand. They don't have any inventory currently.
A consumer in Northern China mentioned that the most competitive price of ferrosilicon 75%min 200-500mm they received today stood at RMB7,900/t (USD1,139/t) EXW D/P. "We didn't purchase today because we hold enough stocks for around 20 days consumption and last purchased 1,000t at RMB7,950/t (USD1,146/t) early last week", noted the consumer, adding that the best price they received yesterday stood at RMB8,000/t (USD1,153/t). They hold pessimistic attitude towards the market and predict that the mainstream prices of Chinese ferrosilicon 75%min would edge down by the end of this week discouraged by weak demand from the end market.
Based on the consumption capacity of 24,000tpy, the consumer expects to consume around 2,000t in March, in line with the previous month. They hold nearly 1,500t in stock currently.
