Chinese ferrosilicon 72%min suppliers negative about market outlook
2023-03-13 10:25:42 [Print]
BEIJING (Asian Metal) 13 Mar 23 – Discouraged by weak demand from steel mills, most suppliers held pessimistic attitudes about the market and lowered their prices today. The mainstream prices of Chinese ferrosilicon 72%min 10-50mm slip by RMB50/t (USD7/t) from yesterday to the current RMB7,650-7,850/t (USD1,099-1,128/t) EXW D/P. Insiders believe that the mainstream prices of Chinese ferrosilicon 72%min would drop again in the coming week due to sluggish demand from the downstream.
A producer in Shaanxi disclosed, "We hold the negative attitude tiwards the market given that most clients would only consider placing orders with lower prices. So we plan to decrease our price by RMB50/t (USD7/t) next week". Their best price of ferrosilicon 72%min 10-50mm stands at RMB7,650/t (USD1,099/t) EXW D/P currently while they insisted on RMB7,700/t (USD1,106/t) yesterday. They didn't close any deal today and sold 200t at RMB7,700/t (USD1,106/t) yesterday. The producer hold the view that the mainstream prices of Chinese ferrosilicon 72%min would move down further in the following week.
The producer, with an annual production capacity of 850,000t, plans to produce about 6,000t in March, in line with last month. They don't have stock currently.
A trader from Shanxi mentioned that they hold pessimistic attitude about the market outlook and believe that the mainstream prices of Chinese ferrosilicon 72%min 10-50mm would decrease in the coming week dragged by weak demand from steel mills. "We didn't purchase today because we would like to postpone our purchase plan for the decreasing trend and last purchased 300t at RMB7,800/t (USD1,121/t) EXW D/P early last week", revealed the trader, adding that the best price they received today stood at RMB7,700/t (USD1,106/t) while the most competitive price they received yesterday stood at RMB7,750/t (USD1,114/t).
Based on the regular trading volume of 1,000tpm, the trader expects to trade around 1,000t in March, on par with the previous month. They hold no inventory at the moment.
A producer in Shaanxi disclosed, "We hold the negative attitude tiwards the market given that most clients would only consider placing orders with lower prices. So we plan to decrease our price by RMB50/t (USD7/t) next week". Their best price of ferrosilicon 72%min 10-50mm stands at RMB7,650/t (USD1,099/t) EXW D/P currently while they insisted on RMB7,700/t (USD1,106/t) yesterday. They didn't close any deal today and sold 200t at RMB7,700/t (USD1,106/t) yesterday. The producer hold the view that the mainstream prices of Chinese ferrosilicon 72%min would move down further in the following week.
The producer, with an annual production capacity of 850,000t, plans to produce about 6,000t in March, in line with last month. They don't have stock currently.
A trader from Shanxi mentioned that they hold pessimistic attitude about the market outlook and believe that the mainstream prices of Chinese ferrosilicon 72%min 10-50mm would decrease in the coming week dragged by weak demand from steel mills. "We didn't purchase today because we would like to postpone our purchase plan for the decreasing trend and last purchased 300t at RMB7,800/t (USD1,121/t) EXW D/P early last week", revealed the trader, adding that the best price they received today stood at RMB7,700/t (USD1,106/t) while the most competitive price they received yesterday stood at RMB7,750/t (USD1,114/t).
Based on the regular trading volume of 1,000tpm, the trader expects to trade around 1,000t in March, on par with the previous month. They hold no inventory at the moment.
