Chinese ferrosilicon 72%min prices flat
2023-03-30 08:28:38 [Print]
BEIJING (Asian Metal) 30 Mar 23 - Given weak demand and high raw material prices, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand stable at RMB7,650-7,850/t (USD1,111-1,140/t) EXW D/P from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would keep flat within this week due to inactive market and high raw material prices.
A producer in Qinghai disclosed, "We would like to sell ferrosilicon 72%min at RMB7,700/t (USD 1,116/t) EXW D/P without any counteroffer today and we insisted on such price from yesterday". They didn't close any deal since last week and last sold 500t at RMB7,800/t (USD1,133/t) two weeks ago. The producer further revealed they closed two to four deals weekly in the first half of March. They purchased 500t of semi coke at RMB1,200/t (USD173/t) EXW late last week and suppliers stuck to such price from late last week. The producer predicts the mainstream prices of Chinese ferrosilicon 72%min would remain stable by the end of this week due to scares deals and high raw material prices.
The producer, with an annual production capacity of 74,000t, plans to produce about 4,500t in March, in line with last month. They hold nearly 3,000t in stock currently.
A trader from Ningxia mentioned that the best price for ferrosilicon 72%min 10-5-mm they received from yesterday stood at RMB7,700/t (USD1,116/t) EXW D/P. "We didn't purchase today for no deals from the downstream and last purchased 50t at RMB7,600/t (USD1,104/t) late last week", noted the trader, adding that they usually bought 100t to 200t in a single purchase before mid of March. They believe the mainstream prices of Chinese ferrosilicon 72%min would stay steady by the end of this week given limited deals from steel mills and firm prices from most suppliers.
Based on the regular monthly trading volume of 500t, the trader expects to sell around 500t in March, on par with the previous month. They hold no inventory currently.
A producer in Qinghai disclosed, "We would like to sell ferrosilicon 72%min at RMB7,700/t (USD 1,116/t) EXW D/P without any counteroffer today and we insisted on such price from yesterday". They didn't close any deal since last week and last sold 500t at RMB7,800/t (USD1,133/t) two weeks ago. The producer further revealed they closed two to four deals weekly in the first half of March. They purchased 500t of semi coke at RMB1,200/t (USD173/t) EXW late last week and suppliers stuck to such price from late last week. The producer predicts the mainstream prices of Chinese ferrosilicon 72%min would remain stable by the end of this week due to scares deals and high raw material prices.
The producer, with an annual production capacity of 74,000t, plans to produce about 4,500t in March, in line with last month. They hold nearly 3,000t in stock currently.
A trader from Ningxia mentioned that the best price for ferrosilicon 72%min 10-5-mm they received from yesterday stood at RMB7,700/t (USD1,116/t) EXW D/P. "We didn't purchase today for no deals from the downstream and last purchased 50t at RMB7,600/t (USD1,104/t) late last week", noted the trader, adding that they usually bought 100t to 200t in a single purchase before mid of March. They believe the mainstream prices of Chinese ferrosilicon 72%min would stay steady by the end of this week given limited deals from steel mills and firm prices from most suppliers.
Based on the regular monthly trading volume of 500t, the trader expects to sell around 500t in March, on par with the previous month. They hold no inventory currently.
