Chinese silicon metal exporters decrease prices in advance to secure orders
2023-04-25 08:31:20 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Even though the current prices of silicon metal in China maintain stable, Chinese exporters keep bearish about the outlook and decrease prices in advance to secure orders, and the current mainstream export prices of Chinese silicon metal 4-4-1 decreased by USD30/t to USD2,220-2,320/t Ex-VAT FOB China. Given the increasing supply in May in China, insiders foresee the mainstream export prices of Chinese silicon metal 4-4-1 would go down further in May.
A trader in Fujian revealed that he sold 40t of silicon metal 4-4-1 at USD2,220/t FOB China on Monday, down by USD30/t from his price early last week. "I also secured 100t of silicon metal 4-4-1 at USD2,160/t FOB China today with the cargo departure in late May as I'm negative about the outlook and increased supply in Sichuan in May," revealed the trader on Monday. He added that the current prices in China maintain relatively stable but he decreased prices upon the depreciated CNY this week, and he predicts the mainstream export prices of silicon metal 4-4-1 in May would drop on the increasing supply.
The trader, based on a regular monthly trading volume of 600t of silicon metal, the trader expects to sell around 300t in April, down by around 100t from last month, holding no stocks.
Another trader in Fujian remains bearish about the outlook and he secured 120t of silicon metal 4-4-1 on Monday at USD2,150/t FOB China with the cargo departure in early June. "I foresee the CNY would turn weaker in May and prices in China would go down in May upon the increasing supply in Sichuan," revealed a trader on Monday. He added that his current offer for silicon metal 4-4-1 stands at USD2,270/t FOB China and he sold 20t at USD2,250/t CIF Japan with prompt delivery on Monday, down by USD30/t from early last week upon the stable prices in China but depreciated CNY and sluggish overseas demand.
Based on a regular monthly trading volume of 1,000t of silicon metal, the trader expects to sell around 500t in April, down by around 200t from last month, keeping around 500t in stock.
A trader in Fujian revealed that he sold 40t of silicon metal 4-4-1 at USD2,220/t FOB China on Monday, down by USD30/t from his price early last week. "I also secured 100t of silicon metal 4-4-1 at USD2,160/t FOB China today with the cargo departure in late May as I'm negative about the outlook and increased supply in Sichuan in May," revealed the trader on Monday. He added that the current prices in China maintain relatively stable but he decreased prices upon the depreciated CNY this week, and he predicts the mainstream export prices of silicon metal 4-4-1 in May would drop on the increasing supply.
The trader, based on a regular monthly trading volume of 600t of silicon metal, the trader expects to sell around 300t in April, down by around 100t from last month, holding no stocks.
Another trader in Fujian remains bearish about the outlook and he secured 120t of silicon metal 4-4-1 on Monday at USD2,150/t FOB China with the cargo departure in early June. "I foresee the CNY would turn weaker in May and prices in China would go down in May upon the increasing supply in Sichuan," revealed a trader on Monday. He added that his current offer for silicon metal 4-4-1 stands at USD2,270/t FOB China and he sold 20t at USD2,250/t CIF Japan with prompt delivery on Monday, down by USD30/t from early last week upon the stable prices in China but depreciated CNY and sluggish overseas demand.
Based on a regular monthly trading volume of 1,000t of silicon metal, the trader expects to sell around 500t in April, down by around 200t from last month, keeping around 500t in stock.
