Chinese ferrosilicon 75%min suppliers downbeat the market
2023-03-09 09:22:52 [Print]
BEIJING (Asian Metal) 9 Mar 23 - In spite of weak demand from the downstream, most producers held their prices unchanged from yesterday due to relieved inventory pressure of suppliers. Currently, the mainstream prices of Chinese ferrosilicon 75%min 200-500mm soften at RMB7,900-8,100/t (USD1,134-1,163/t) EXW D/P from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would edge down within this week for sluggish demand.
A producer from Qinghai mentioned that they hold the pessimistic attitude towards the market and believe the mainstream prices of Chinese ferrosilicon 75%min would go down by the end of this week for limited deals. "We lowered our price this afternoon, down by RMB100/t from yesterday for no deals this week. We would like to sell ferrosilicon 75%min 200-500mm at RMB7,800/t (USD1,120/t) EXW D/P currently", the producer revealed. They didn't close any deal today and last sold 200t at RMB7,900/t (USD1,134/t) late last week
The producer, with an annual production capacity of 60,000t, plans to produce about 2,000t in March with one 2,2500kVA furnace under operation, in line with last month. They have nearly 200t in stock currently.
Another producer in Shaanxi disclosed, "We hold the negative attitude about the market because the price of end market keeps decreasing and we would lower their price late this week. Our current offer for ferrosilicon 75%min 200-500mm stands at RMB7,950/t (USD1,142/t) EXW D/P and we could consider a concession as much as RMB50/t. We insisted on this price from yesterday". They didn't close any deal today and last sold 100t at RMB8,000/t (USD1,149/t) early this week. The producer predicts that the mainstream prices of Chinese ferrosilicon 75%min would slip within this week dragged by sluggish demand from downstream clients.
Based on the production capacity of 100,000tpy, the producer expects to produce around 4,500t in March, on par with the previous month. They hold no inventory at the moment.
A producer from Qinghai mentioned that they hold the pessimistic attitude towards the market and believe the mainstream prices of Chinese ferrosilicon 75%min would go down by the end of this week for limited deals. "We lowered our price this afternoon, down by RMB100/t from yesterday for no deals this week. We would like to sell ferrosilicon 75%min 200-500mm at RMB7,800/t (USD1,120/t) EXW D/P currently", the producer revealed. They didn't close any deal today and last sold 200t at RMB7,900/t (USD1,134/t) late last week
The producer, with an annual production capacity of 60,000t, plans to produce about 2,000t in March with one 2,2500kVA furnace under operation, in line with last month. They have nearly 200t in stock currently.
Another producer in Shaanxi disclosed, "We hold the negative attitude about the market because the price of end market keeps decreasing and we would lower their price late this week. Our current offer for ferrosilicon 75%min 200-500mm stands at RMB7,950/t (USD1,142/t) EXW D/P and we could consider a concession as much as RMB50/t. We insisted on this price from yesterday". They didn't close any deal today and last sold 100t at RMB8,000/t (USD1,149/t) early this week. The producer predicts that the mainstream prices of Chinese ferrosilicon 75%min would slip within this week dragged by sluggish demand from downstream clients.
Based on the production capacity of 100,000tpy, the producer expects to produce around 4,500t in March, on par with the previous month. They hold no inventory at the moment.
