South Korean market sees few ferrosilicon import orders
2023-03-22 08:22:12 [Print]
BEIJING (Asian Metal) 22 Mar 23 - Upon the slow purchases while stable prices from international suppliers, the current mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea hover at USD1,540-1,570/t CIF Busan this week from early last week. Insiders predict the mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea would go soft next week.
"I usually purchase 100t every week but I didn't purchase in the past two weeks as my clients didn't have plan to purchase yet, and I last purchased 100t at around USD1,620/t CIF Busan in early March," revealed a trader in South Korea on Tuesday. He added that the current offer for ferrosilicon 75%min 10-50mm hits USD1,560/t CIF Busan with the discount of USD10/t at most for firm bids upon the stable prices in China, in line with the supplier's price early last week, but he foresees the mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea could soften upon the slow purchases.
The trader, with a regular monthly import volume of 500t, plans to import about 200t in March, down by about 300t from last month, having no stocks.
Another trader in South Korea disclosed that he could purchase at least twice every month but he didn't purchase yet in March as his clients from foundries decreased consumption. "I last purchased 100t of ferrosilicon 75%min 10-50mm at USD1,600/t Busan at the end of February, and the current offer stands at USD1,570/t CIF Busan with no discount, unchanged from the supplier's price early last week," revealed the trader on Tuesday. He added that some Chinese suppliers intend to move prices down to boost sales, and he predict the mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea would slip next week.
The trader, with a regular monthly import volume of 300t, expects to import about 100t at most in March, down by about 200t from last month, keeping no stocks.
"I usually purchase 100t every week but I didn't purchase in the past two weeks as my clients didn't have plan to purchase yet, and I last purchased 100t at around USD1,620/t CIF Busan in early March," revealed a trader in South Korea on Tuesday. He added that the current offer for ferrosilicon 75%min 10-50mm hits USD1,560/t CIF Busan with the discount of USD10/t at most for firm bids upon the stable prices in China, in line with the supplier's price early last week, but he foresees the mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea could soften upon the slow purchases.
The trader, with a regular monthly import volume of 500t, plans to import about 200t in March, down by about 300t from last month, having no stocks.
Another trader in South Korea disclosed that he could purchase at least twice every month but he didn't purchase yet in March as his clients from foundries decreased consumption. "I last purchased 100t of ferrosilicon 75%min 10-50mm at USD1,600/t Busan at the end of February, and the current offer stands at USD1,570/t CIF Busan with no discount, unchanged from the supplier's price early last week," revealed the trader on Tuesday. He added that some Chinese suppliers intend to move prices down to boost sales, and he predict the mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea would slip next week.
The trader, with a regular monthly import volume of 300t, expects to import about 100t at most in March, down by about 200t from last month, keeping no stocks.
