Ferrosilicon prices in Europe slip
2023-04-07 07:45:36 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Discouraged by the weak demand, the current mainstream prices of ferrosilicon 75%min 10-50mm in Europe slipped by EUR50/t (USD54/t) to EUR1,700-1,800/t (USD1,855-1,965/t) in warehouse Rotterdam T/T 30 days from early last week. Given the tight supply and weakening demand, insiders predict the mainstream prices of ferrosilicon 75%min 10-50mm in Europe would keep soft next week.
A trader in Central Europe disclosed that he sold 100t of ferrosilicon 75%min 10-50mm at EUR1,800/t (USD1,965/t) D.D.P covered the freight of EUR30/t (USD32/t) this week, while he insisted on EUR1,850/t (USD2,019/t) early last week. "The demand from my foundry clients decreased by around 30% in March, and I narrowed profit to drive sales," revealed the trader on Thursday. He mentioned that the supply from Brazil remains tight, while he predicts the mainstream prices of ferrosilicon 75%min in Europe remain softening next week as easter holiday is coming.
With a regular monthly trading amount of 500t for ferrosilicon, the trader expects to sell around 300t in April, down by 100t from last month, holding around 300t in stock.
A consumer in Central Europe disclosed that he bought 120t of ferrosilicon 75%min 10-50mm at EUR1,750/t (USD1,910/t) D.D.P covered the logistic of around EUR35/t (USD38/t) this week from a supplier who insisted on EUR1,800/t (USD1,965/t) early last week. "Our consumption would slightly decrease by about 20% in April against March dragged by the fewer orders of our ending products, and I predict the mainstream prices of ferrosilicon 75%min 10-50mm in Europe would still go soft next week upon the sluggish demand," revealed the consumer on Thursday.
The consumer, based on an annual consumption capacity for ferrosilicon of around 2,500t, predicts to consume around 100t this month, down by around 50t from last month, holding around 200t in stock.
A trader in Central Europe disclosed that he sold 100t of ferrosilicon 75%min 10-50mm at EUR1,800/t (USD1,965/t) D.D.P covered the freight of EUR30/t (USD32/t) this week, while he insisted on EUR1,850/t (USD2,019/t) early last week. "The demand from my foundry clients decreased by around 30% in March, and I narrowed profit to drive sales," revealed the trader on Thursday. He mentioned that the supply from Brazil remains tight, while he predicts the mainstream prices of ferrosilicon 75%min in Europe remain softening next week as easter holiday is coming.
With a regular monthly trading amount of 500t for ferrosilicon, the trader expects to sell around 300t in April, down by 100t from last month, holding around 300t in stock.
A consumer in Central Europe disclosed that he bought 120t of ferrosilicon 75%min 10-50mm at EUR1,750/t (USD1,910/t) D.D.P covered the logistic of around EUR35/t (USD38/t) this week from a supplier who insisted on EUR1,800/t (USD1,965/t) early last week. "Our consumption would slightly decrease by about 20% in April against March dragged by the fewer orders of our ending products, and I predict the mainstream prices of ferrosilicon 75%min 10-50mm in Europe would still go soft next week upon the sluggish demand," revealed the consumer on Thursday.
The consumer, based on an annual consumption capacity for ferrosilicon of around 2,500t, predicts to consume around 100t this month, down by around 50t from last month, holding around 200t in stock.
