Chinese ferrosilicon 75%min prices drop
2023-03-13 10:23:43 [Print]
BEIJING (Asian Metal) 13 Mar 23 - Due to weak demand from the downstream, most suppliers held negative attitudes and lowered their prices again from yesterday. Currently, the mainstream prices of Chinese ferrosilicon 75%min 200-500mm stand at RMB7,800-8,000/t (USD1,121-1,150/t) EXW D/P, down by RMB50/t (USD7/t) from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would slip further in the coming week dragged by inactive market.
A consumer in Inner Mongolia mentioned that the best price of ferrosilicon 75%min 200-500mm they received today stood at RMB7,800/t (USD1,121/t) EXW D/P. "We didn't purchase today and last purchased 200t at RMB7,850/t (USD1,128/t) yesterday when the suppliers insisted on the price", the consumer noted. They would like to postpone their purchase plan for the decreasing trend and believe the mainstream prices of Chinese ferrosilicon 75%min would go down further in the following week for weak demand from the end market.
Based on the annual consumption capacity of 28,800t, the consumer expects to consume about 2,400t in March, in line with last month. They hold the inventory of 200t currently.
Another consumer from Ningxia disclosed, "The most competitive price of ferrosilicon 75%min we received today stood at RMB7,900/t (USD1,135/t) EXW D/P while the best price we received yesterday stood at RMB7,950/t (USD1,142/t)". They didn't purchase today for enough stocks and last purchased 200t at RMB8,000/t (USD1,150/t) with the freight of RMB200/t (USD29/t). They hold the negative attitude about the market and predict the mainstream prices of Chinese ferrosilicon 75%min would decline in the coming week because they believe that suppliers would lower their prices.
The consumer, with a consumption capacity of 15,000tpy, predicts to consume around 600t in March, on par with the previous month. They have approximately 300t in stock at the moment
A consumer in Inner Mongolia mentioned that the best price of ferrosilicon 75%min 200-500mm they received today stood at RMB7,800/t (USD1,121/t) EXW D/P. "We didn't purchase today and last purchased 200t at RMB7,850/t (USD1,128/t) yesterday when the suppliers insisted on the price", the consumer noted. They would like to postpone their purchase plan for the decreasing trend and believe the mainstream prices of Chinese ferrosilicon 75%min would go down further in the following week for weak demand from the end market.
Based on the annual consumption capacity of 28,800t, the consumer expects to consume about 2,400t in March, in line with last month. They hold the inventory of 200t currently.
Another consumer from Ningxia disclosed, "The most competitive price of ferrosilicon 75%min we received today stood at RMB7,900/t (USD1,135/t) EXW D/P while the best price we received yesterday stood at RMB7,950/t (USD1,142/t)". They didn't purchase today for enough stocks and last purchased 200t at RMB8,000/t (USD1,150/t) with the freight of RMB200/t (USD29/t). They hold the negative attitude about the market and predict the mainstream prices of Chinese ferrosilicon 75%min would decline in the coming week because they believe that suppliers would lower their prices.
The consumer, with a consumption capacity of 15,000tpy, predicts to consume around 600t in March, on par with the previous month. They have approximately 300t in stock at the moment
