Chinese ferrosilicon 75%min prices increase
2023-04-13 08:31:46 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Encouraged by high raw material prices and more inquiries, the mainstream prices of Chinese ferrosilicon 75%min 200-500mm stand at RMB8,000-8,200/t (USD1,162-1,191/t) at present, up by RMB100/t (USD15/t) from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would keep flat within this week given less firm bids and high raw material prices.
A producer from Shaanxi disclosed, "We would like to sell ferrosilicon 75%min 200-500mm at RMB8,200/t (USD1,191/t) EXW D/P with a concession as much as RMB100/t (USD15/t) today while we didn't consider any price lower than RMB8,000/t (USD1,162/t) yesterday". They didn't close any deal today and sold 30t at RMB8,000/t (USD1,162/t) yesterday. The producer further revealed that closed two to three deals weekly in the past two weeks while closed four to six deals a week in March. They believe that the mainstream prices of Chinese ferrosilicon 75%min would remain stable by the end of this week given more inquiries but limited deals.
The producer, with an annual production capacity of 80,000t, plans to produce about 2,000t in April with one 33,000kVA furnace under operation, in line with last month. They don't have any inventory currently and produced around 9,500t from January to March.
A consumer in Shaanxi mentioned that the most competitive price for ferrosilicon 75%min 200-500mm they received today stood at RMB8,200/t (USD1,191/t) Delivered D/P from local producers with the freight of around RMB50/t (USD7/t). "We didn't purchase today and last purchased 200t at RMB8,100/t (USD1,177/t) yesterday when we failed ask for lower price", the consumer noted. They predict the mainstream prices of Chinese ferrosilicon 75%min would stay steady within this week because of inactive downstream market and firm prices from suppliers.
Based on the annual consumption capacity of 30,000t, the consumer expects to consume around 1,200t in April, on par with the previous month. They consumed approximately 3,600t in the past three months and hold nearly 300t in stock at the moment.
A producer from Shaanxi disclosed, "We would like to sell ferrosilicon 75%min 200-500mm at RMB8,200/t (USD1,191/t) EXW D/P with a concession as much as RMB100/t (USD15/t) today while we didn't consider any price lower than RMB8,000/t (USD1,162/t) yesterday". They didn't close any deal today and sold 30t at RMB8,000/t (USD1,162/t) yesterday. The producer further revealed that closed two to three deals weekly in the past two weeks while closed four to six deals a week in March. They believe that the mainstream prices of Chinese ferrosilicon 75%min would remain stable by the end of this week given more inquiries but limited deals.
The producer, with an annual production capacity of 80,000t, plans to produce about 2,000t in April with one 33,000kVA furnace under operation, in line with last month. They don't have any inventory currently and produced around 9,500t from January to March.
A consumer in Shaanxi mentioned that the most competitive price for ferrosilicon 75%min 200-500mm they received today stood at RMB8,200/t (USD1,191/t) Delivered D/P from local producers with the freight of around RMB50/t (USD7/t). "We didn't purchase today and last purchased 200t at RMB8,100/t (USD1,177/t) yesterday when we failed ask for lower price", the consumer noted. They predict the mainstream prices of Chinese ferrosilicon 75%min would stay steady within this week because of inactive downstream market and firm prices from suppliers.
Based on the annual consumption capacity of 30,000t, the consumer expects to consume around 1,200t in April, on par with the previous month. They consumed approximately 3,600t in the past three months and hold nearly 300t in stock at the moment.
