Chinese ferrosilicon market to go down further
2010-01-15 09:56:40 【Print】
BEIJING (Asian Metal) 15 Jan 10 – Chinese ferrosilicon producers generally offer RMB6,000-6100/t ex works for ferrosilicon 75%, down from RMB6,100-6,200/t, and participants believe that it may go down further slightly.
A producer in Ningxia, who usually produces 50,000tpm of ferrosilicon, sold 100t of ferrosilicon 72% for RMB6,000/t ex works and 100t of ferrosilicon 75% for RMB6,100/t ex works on Thursday.
“I think ferrosilicon price may go down a little bit further in the coming days,” said the source. “First, some steel mills have already bought some materials now, and it is not hurry to buy more at present; second, the demand from domestic and foreign consumers is slow now, and Spring Festival is around the corner, so purchase is getting into troughs period.”
The source offers RMB6,700/t ex works for ferrosilicon 75% Al 0.5%, but no deals were made these days.
A steel mill in Jiangsu, who usually purchases 2,000tpm of ferrosilicon, bought 1,000t of ferrosilicon 75% for RMB6,700/t delivered from Inner Mongolia and Qinghai.
“I think ferrosilicon market may get into active after 20th February,” said the source. “We already got enough materials for January and February, so we are not hurry to buy any more currently. The market trend will calm down a little bit in the coming days.”
A producer in Ningxia, who usually produces 500tpm of ferrosilicon, sold 300t of ferrosilicon 45% for RMB6,800/t delivered to Tianjin port last Sunday.
“We only supply ferrosilicon to consumers in Japan,” said the source. “The power price increased by RMB0.03/KWH and producers in Ningxia can make some profits at prices even below RMB6,050/t ex works for ferrosilicon 75%, and some steel mills have enough materials in stock now, so it may go down slightly in the coming days.”
A producer in Ningxia, who usually produces 50,000tpm of ferrosilicon, sold 100t of ferrosilicon 72% for RMB6,000/t ex works and 100t of ferrosilicon 75% for RMB6,100/t ex works on Thursday.
“I think ferrosilicon price may go down a little bit further in the coming days,” said the source. “First, some steel mills have already bought some materials now, and it is not hurry to buy more at present; second, the demand from domestic and foreign consumers is slow now, and Spring Festival is around the corner, so purchase is getting into troughs period.”
The source offers RMB6,700/t ex works for ferrosilicon 75% Al 0.5%, but no deals were made these days.
A steel mill in Jiangsu, who usually purchases 2,000tpm of ferrosilicon, bought 1,000t of ferrosilicon 75% for RMB6,700/t delivered from Inner Mongolia and Qinghai.
“I think ferrosilicon market may get into active after 20th February,” said the source. “We already got enough materials for January and February, so we are not hurry to buy any more currently. The market trend will calm down a little bit in the coming days.”
A producer in Ningxia, who usually produces 500tpm of ferrosilicon, sold 300t of ferrosilicon 45% for RMB6,800/t delivered to Tianjin port last Sunday.
“We only supply ferrosilicon to consumers in Japan,” said the source. “The power price increased by RMB0.03/KWH and producers in Ningxia can make some profits at prices even below RMB6,050/t ex works for ferrosilicon 75%, and some steel mills have enough materials in stock now, so it may go down slightly in the coming days.”
