Chinese ferrosilicon 72%min prices temporarily stable
2023-03-17 09:37:15 [Print]
BEIJING (Asian Metal) 17 Mar 23 - In spite of inactive market, most producers held their prices unchanged today. Currently, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand firm at RMB7,600-7,800/t (USD1,102-1,131/t) EXW D/P from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would slip in the coming week for limited deals.
A producer from Ningxia mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,102/t) EXW D/P today and they insisted on this price from yesterday. "We didn't close any deal today and last sold 100t two weeks ago at RMB7,800/t (USD1,131/t)", the producer noted, adding that they tend to clear the inventory and transferred to produce ferrosilicon 65%min from late last week due to no deals in the past two weeks. They believe that the mainstream prices of Chinese ferrosilicon 72%min would slip in the following week for week demand from steel mills.
The producer, with an annual production capacity of 86,500t ferrosilicon 72%min, produced about 1,000t in March, down by 2,000t from last month for no deals. They hold an inventory of nearly 100t currently.
Another producer in Ningxia disclosed, "Our target offer for ferrosilicon 72%min 10-50mm stood at RMB7,800/t (USD1,131/t) EXW D/P without any concession from yesterday." They didn't close any deal this month and last sold 300t at RMB7,900t (USD1,145/t) EXW D/P two weeks ago. The producer further revealed that they easily closed three to four deals weakly before March when they hold no stock weekly. They would consider to cutting production next month fighting against inventory pressure and predicts that the mainstream prices of Chinese ferrosilicon 72%min would drop in the coming week for limited deals.
Based on the production capacity of 54,000tpy, the producer plans to produce about 2,000t in March, in line with last month. They have approximately 1,000t in stock at the moment.
A producer from Ningxia mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,102/t) EXW D/P today and they insisted on this price from yesterday. "We didn't close any deal today and last sold 100t two weeks ago at RMB7,800/t (USD1,131/t)", the producer noted, adding that they tend to clear the inventory and transferred to produce ferrosilicon 65%min from late last week due to no deals in the past two weeks. They believe that the mainstream prices of Chinese ferrosilicon 72%min would slip in the following week for week demand from steel mills.
The producer, with an annual production capacity of 86,500t ferrosilicon 72%min, produced about 1,000t in March, down by 2,000t from last month for no deals. They hold an inventory of nearly 100t currently.
Another producer in Ningxia disclosed, "Our target offer for ferrosilicon 72%min 10-50mm stood at RMB7,800/t (USD1,131/t) EXW D/P without any concession from yesterday." They didn't close any deal this month and last sold 300t at RMB7,900t (USD1,145/t) EXW D/P two weeks ago. The producer further revealed that they easily closed three to four deals weakly before March when they hold no stock weekly. They would consider to cutting production next month fighting against inventory pressure and predicts that the mainstream prices of Chinese ferrosilicon 72%min would drop in the coming week for limited deals.
Based on the production capacity of 54,000tpy, the producer plans to produce about 2,000t in March, in line with last month. They have approximately 1,000t in stock at the moment.
