Chinese ferrosilicon 72%min prices stable
2023-04-07 08:27:41 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Given high raw material prices, most producers held their prices unchanged today. Therefore, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand firm at RMB7,500-7,700/t (USD1,090-1,120/t) EXW D/P from early this week. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would decrease in the coming week due to weak demand from the downstream.
A producer from Gansu mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,105/t) EXW D/P with a concession as much as RMB100/t (USD15/t) today. "We didn't close any deal today and last sold 100t at RMB7,500/t (USD1,090/t) early this week when we insisted on such price", noted the producer, adding that they only closed one deal this week while they closed three to four deals weekly in March. Even though the electricity charges stood table in the past two weeks, the producer believes that the mainstream prices of Chinese ferrosilicon 72%min would soften in the following week for limited deals.
The producer, with an annual production capacity of 1,000t, plans to produce about 1,000t in April, in line with last month. They don't have any inventory currently.
A trader in Henan disclosed, "The quotation for ferrosilicon 72%min 10-50mm we received from early this week stood at RMB7,600/t (USD1,105/t) EXW D/P and most suppliers would consider a concession as much as RMB100/t (USD15/t) if we place an order over 1,000t from early this week". They didn't purchase today for no deals from the downstream and last purchased 2,000t at RMB7,500/t (USD1,090/t) early last week. As the trader predicts that the mainstream prices of Chinese ferrosilicon 72%min would weaken in the coming week due to weak demand from the downstream, they held negative attitude towards the market and wouldn't like to hold any inventory next week while they held around 2,600t in stock early last week.
Based on the regular monthly trading volume of 3,000t, the trader expects to sell around 2,500t in April, down by 500t for sluggish demand. They hold no stock at the moment.
A producer from Gansu mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,105/t) EXW D/P with a concession as much as RMB100/t (USD15/t) today. "We didn't close any deal today and last sold 100t at RMB7,500/t (USD1,090/t) early this week when we insisted on such price", noted the producer, adding that they only closed one deal this week while they closed three to four deals weekly in March. Even though the electricity charges stood table in the past two weeks, the producer believes that the mainstream prices of Chinese ferrosilicon 72%min would soften in the following week for limited deals.
The producer, with an annual production capacity of 1,000t, plans to produce about 1,000t in April, in line with last month. They don't have any inventory currently.
A trader in Henan disclosed, "The quotation for ferrosilicon 72%min 10-50mm we received from early this week stood at RMB7,600/t (USD1,105/t) EXW D/P and most suppliers would consider a concession as much as RMB100/t (USD15/t) if we place an order over 1,000t from early this week". They didn't purchase today for no deals from the downstream and last purchased 2,000t at RMB7,500/t (USD1,090/t) early last week. As the trader predicts that the mainstream prices of Chinese ferrosilicon 72%min would weaken in the coming week due to weak demand from the downstream, they held negative attitude towards the market and wouldn't like to hold any inventory next week while they held around 2,600t in stock early last week.
Based on the regular monthly trading volume of 3,000t, the trader expects to sell around 2,500t in April, down by 500t for sluggish demand. They hold no stock at the moment.
