The US ferrosilicon market sees slow purchases
2023-04-21 09:48:15 [Print]
BEIJING (Asian Metal) 21 Apr 23 - Upon the sufficient stocks from consumers, the ferrosilicon spot market in the US sees slow purchases this week, and the current mainstream prices of ferrosilicon 75%min 10-50mm in the US hover at USD1.20-1.25/lb Si in warehouse Pittsburgh T/T 30 days, unchanged from early last week. Given the increasing supply, insiders foresee the mainstream prices of ferrosilicon 75%min 10-50mm in the US would slip next week.
A trader in the US revealed that he only sold 60t of ferrosilicon 75%min 10-50mm at USD1.25/lb Si D.D.P covered the transport around USD0.02/lb Si this week, in line with his price last week. "Over half of my clients cut purchase amounts due to their sufficient stocks, and my sales volume in April would halve against March," revealed the trader on Thursday. He added that the supply from Europe keeps increasing, and he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would drop next week.
With a regular monthly trading volume for silicon metal around 500t in the spot market, the trader predicts to sell around 200t in April, down by around 200t from last month, holding around 300t in stock.
Another trader in the US disclosed that regularly he could close at least one deal a week in March but he didn't close any deals in the past two weeks due to the sluggish demand in the spot market. "My current offer for ferrosilicon 75%min 10-50mm stands at USD1.25/lb Si in warehouse Pittsburgh T/T 30 days with no discount, and I insisted on the same price early last week, and I last sold 100t at USD1.30/lb Si in late March," revealed the trader on Thursday. He added that most his clients prefer to destock and hang up purchases, and he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down next week.
The trader, based on a regular monthly trading volume for silicon metal around 300t in the spot market, predicts to sell around 100t in April, a decrease of 200t from last month, holding around 300t in stock.
A trader in the US revealed that he only sold 60t of ferrosilicon 75%min 10-50mm at USD1.25/lb Si D.D.P covered the transport around USD0.02/lb Si this week, in line with his price last week. "Over half of my clients cut purchase amounts due to their sufficient stocks, and my sales volume in April would halve against March," revealed the trader on Thursday. He added that the supply from Europe keeps increasing, and he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would drop next week.
With a regular monthly trading volume for silicon metal around 500t in the spot market, the trader predicts to sell around 200t in April, down by around 200t from last month, holding around 300t in stock.
Another trader in the US disclosed that regularly he could close at least one deal a week in March but he didn't close any deals in the past two weeks due to the sluggish demand in the spot market. "My current offer for ferrosilicon 75%min 10-50mm stands at USD1.25/lb Si in warehouse Pittsburgh T/T 30 days with no discount, and I insisted on the same price early last week, and I last sold 100t at USD1.30/lb Si in late March," revealed the trader on Thursday. He added that most his clients prefer to destock and hang up purchases, and he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down next week.
The trader, based on a regular monthly trading volume for silicon metal around 300t in the spot market, predicts to sell around 100t in April, a decrease of 200t from last month, holding around 300t in stock.
