Ferrosilicon prices in the US drop
2023-04-28 10:25:24 [Print]
BEIJING (Asian Metal) 28 Apr 23 - Dragged by the slow purchases, the current mainstream price of ferrosilicon 75%min 10-50mm in the US moved down by USD0.03/lb Si to USD1.17-1.22/lb Si in warehouse Pittsburgh T/T 30 days from early last week. Insiders forecast the mainstream price of ferrosilicon 75%min 10-50mm would soften next week.
A trader in the US revealed that he sold 100t of ferrosilicon 75%min at USD1.25/lb Si D.D.P T/T 30 day with the transport of USD0.03/lb Si this week, down by about USD0.03/lb Si from his price early last week. "Most clients overbooked materials last year and keep consuming stocks, and I agreed with the buyer's bid upon the few inquiries in the spot market now," revealed the trader on Thursday. He added that the import prices of Brazilian ferrosilicon 75%min keep firm due to the solid demand in Brazil, while he foresees the mainstream prices of ferrosilicon 75%min 10-50mm in the US remain softening next week upon the slow purchases in the US.
With a regular monthly trading volume for ferrosilicon around 300t in the spot market, the trader predicts to sell around 200t in April, down by around 100t from last month, holding around 300t in stock.
Another trader in the US revealed that his current offer for ferrosilicon 75%min 10-50mm stands at USD1.250/lb Si D.D.P and he sold 150t at USD1.20/lb Si D.D.P covered the logistic cost of USD0.03/lb Si on Thursday, down by USD0.03/lb Si from his price early last week. "My major clients minimized their purchase amount upon their sufficient stocks booked last year, and I predict the mainstream prices of ferrosilicon 75%min 10-50mm still show softening trend next week as more and more supply from Asia and Europe in the US now," revealed the trader on Thursday.
The trader, based on a regular monthly trading volume for ferrosilicon around 500t in the spot market, foresees to sell around 300t in March, a decrease of around 100t from last month, holding around 500t in stock.
A trader in the US revealed that he sold 100t of ferrosilicon 75%min at USD1.25/lb Si D.D.P T/T 30 day with the transport of USD0.03/lb Si this week, down by about USD0.03/lb Si from his price early last week. "Most clients overbooked materials last year and keep consuming stocks, and I agreed with the buyer's bid upon the few inquiries in the spot market now," revealed the trader on Thursday. He added that the import prices of Brazilian ferrosilicon 75%min keep firm due to the solid demand in Brazil, while he foresees the mainstream prices of ferrosilicon 75%min 10-50mm in the US remain softening next week upon the slow purchases in the US.
With a regular monthly trading volume for ferrosilicon around 300t in the spot market, the trader predicts to sell around 200t in April, down by around 100t from last month, holding around 300t in stock.
Another trader in the US revealed that his current offer for ferrosilicon 75%min 10-50mm stands at USD1.250/lb Si D.D.P and he sold 150t at USD1.20/lb Si D.D.P covered the logistic cost of USD0.03/lb Si on Thursday, down by USD0.03/lb Si from his price early last week. "My major clients minimized their purchase amount upon their sufficient stocks booked last year, and I predict the mainstream prices of ferrosilicon 75%min 10-50mm still show softening trend next week as more and more supply from Asia and Europe in the US now," revealed the trader on Thursday.
The trader, based on a regular monthly trading volume for ferrosilicon around 500t in the spot market, foresees to sell around 300t in March, a decrease of around 100t from last month, holding around 500t in stock.
