Chinese ferrosilicon 72%min prices stable
2023-03-09 09:22:46 [Print]
BEIJING (Asian Metal) 9 Mar 23 - The current mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand at RMB7,800-8,000/t (USD1,120-1,149/t) EXW D/P, unchanged from early week as most producers tried to held their prices unchanged due to regular purchases. However, Insiders hold negative attitude about the market and believe that the mainstream prices of Chinese ferrosilicon 72%min would edge down within this week for weak demand from the downstream.
A producer from Shaanxi disclosed, "Our current price for ferrosilicon 72%min 10-50mm stands at RMB7,900/t (USD 1,134/t) EXW D/P. We insisted on this price from early this week." They didn't close any deal this week and last sold 300t at RMB7,800/t (USD1,120/t) early last week. The producer hardly closed deal this week while they closed two to three deals weekly before late last month. So they hold the view that the mainstream prices of Chinese ferrosilicon 72%min would decrease by the end of this week.
Based on the production capacity of 85,000t, the producer plans to produce about 6,000t with two 40,500kVA furnaces under operation, in line with last month. They don't have any inventory currently.
Another producer from Qinghai mentioned that they insisted on selling ferrosilicon 72%min 10-50mm at RMB7,800/t (USD1,120/t) EXW D/P from Monday. "We didn't close any deal today and last sold 100t at RMB7,800/t (USD1,120/t) this early week. We noticed that the major steel mills' target purchase volume stands almost same with last month but the price down by around RMB200/t (USD29/t)", noted the producer. They hold the negative attitude towards the market and predict that the mainstream prices of Chinese ferrosilicon 72%min would slip by the end of this week discouraged by weak demand from the downstream.
The producer, with an annual production capacity of 60,000t, expects to produce around 1,000t in March, on par with the previous month. They hold no stock at the moment.
A producer from Shaanxi disclosed, "Our current price for ferrosilicon 72%min 10-50mm stands at RMB7,900/t (USD 1,134/t) EXW D/P. We insisted on this price from early this week." They didn't close any deal this week and last sold 300t at RMB7,800/t (USD1,120/t) early last week. The producer hardly closed deal this week while they closed two to three deals weekly before late last month. So they hold the view that the mainstream prices of Chinese ferrosilicon 72%min would decrease by the end of this week.
Based on the production capacity of 85,000t, the producer plans to produce about 6,000t with two 40,500kVA furnaces under operation, in line with last month. They don't have any inventory currently.
Another producer from Qinghai mentioned that they insisted on selling ferrosilicon 72%min 10-50mm at RMB7,800/t (USD1,120/t) EXW D/P from Monday. "We didn't close any deal today and last sold 100t at RMB7,800/t (USD1,120/t) this early week. We noticed that the major steel mills' target purchase volume stands almost same with last month but the price down by around RMB200/t (USD29/t)", noted the producer. They hold the negative attitude towards the market and predict that the mainstream prices of Chinese ferrosilicon 72%min would slip by the end of this week discouraged by weak demand from the downstream.
The producer, with an annual production capacity of 60,000t, expects to produce around 1,000t in March, on par with the previous month. They hold no stock at the moment.
