Zhongwei Hefa suspend ferrosilicon production
2023-03-13 10:23:46 [Print]
BEIJING (Asian Metal) 13 Mar 23 - As one of major ferrosilicon 72%min producers in China, Ningxia Zhongwei Hefa Smelting Co., Ltd. stopped ferrosilicon production mid this week and the output in March would decrease to around 800t.
"We shut down one 33,000kVA furnace mid this week due to high production costs and low prices. The output would decline to about 800t in March", noted the source from the company, adding that they shut another 45,000kVA furnace mid last month due to inactive market. The company has no exact plan for production resumption yet.
With an annual production capacity of 86,500t, the producer produced around 3,000t in February. They don't have any inventory currently.
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 from yesterday to current RMB7,650-7,850/t (USD /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.
"We shut down one 33,000kVA furnace mid this week due to high production costs and low prices. The output would decline to about 800t in March", noted the source from the company, adding that they shut another 45,000kVA furnace mid last month due to inactive market. The company has no exact plan for production resumption yet.
With an annual production capacity of 86,500t, the producer produced around 3,000t in February. They don't have any inventory currently.
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 from yesterday to current RMB7,650-7,850/t (USD /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.
