Chinese ferrosilicon 72%min export prices flat
2023-04-11 08:24:23 [Print]
BEIJING (Asian Metal) 11 Apr 23 – In view of weak demand from the overseas and firm domestic prices, the currently mainstream export prices of Chinese ferrosilicon 72%min 10-50mm stand stable at USD1,460-1,490/t Ex-VAT FOB China from late last week. Insiders believe the mainstream export prices of Chinese ferrosilicon 72%min would soften within this week discouraged by weak demand and softening prices in domestic market.
A trader from Henan disclosed, "Our current export offer for ferrosilicon 72%min 10-50mm stands at USD1,480/t Ex-VAT FOB China and we insisted on this price from late last week". They didn't close any deal today and last sold 100t at USD1,480/t late last week. The trader further revealed that they only closed one deal since early last week while they closed three to four deals weekly in the second half of March. They predict that the mainstream prices of Chinese ferrosilicon 72%min would weaken by the end of this week for limited deals.
The trader, with the typical monthly trading volume of 300t, expects to export about 200t in April, on par with the previous month. They don't have stock at the moment.
Another trader in Henan mentioned that they would like to sell ferrosilicon 72%min 10-50mm at USD1,460/t Ex-VAT FOB China without any counteroffer from late last week. They didn't close any deal today and last sold 50t at USD1,440/t with the shipment by the end of this month. The trader held pessimistic attitude about the market for the softening prices in domestic market and hold the view that the mainstream export prices of Chinese ferrosilicon 72%min would remain temporally stable within this week.
Based on the typical export volume of 2,000tpm, the trader predicts to export around 800t in April, down by 200t from the previous month for sluggish demand from the overseas. They hold no inventory at the moment.
A trader from Henan disclosed, "Our current export offer for ferrosilicon 72%min 10-50mm stands at USD1,480/t Ex-VAT FOB China and we insisted on this price from late last week". They didn't close any deal today and last sold 100t at USD1,480/t late last week. The trader further revealed that they only closed one deal since early last week while they closed three to four deals weekly in the second half of March. They predict that the mainstream prices of Chinese ferrosilicon 72%min would weaken by the end of this week for limited deals.
The trader, with the typical monthly trading volume of 300t, expects to export about 200t in April, on par with the previous month. They don't have stock at the moment.
Another trader in Henan mentioned that they would like to sell ferrosilicon 72%min 10-50mm at USD1,460/t Ex-VAT FOB China without any counteroffer from late last week. They didn't close any deal today and last sold 50t at USD1,440/t with the shipment by the end of this month. The trader held pessimistic attitude about the market for the softening prices in domestic market and hold the view that the mainstream export prices of Chinese ferrosilicon 72%min would remain temporally stable within this week.
Based on the typical export volume of 2,000tpm, the trader predicts to export around 800t in April, down by 200t from the previous month for sluggish demand from the overseas. They hold no inventory at the moment.
