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South Korean SeAH Special Steel finalizes ferrosilicon purchase for March
2020-02-12 14:47:10 【Print】
BEIJING (Asian Metal) 12 Feb 20 - As one of major steel mills in South Korea, SeAH Special Steel based in Changwon purchased 200t of ferrosilicon 75%min for March at USD1,150/t D.D.P Changwon plant T/T 14 days late last week, disclosed a source from the company.
"We purchased 200t from a local trader at USD1,150/t D.D.P Changwon plant T/T 14 days last Friday with the delivery in early March, and the supplier informed that the material origins from China," said the source on Tuesday, adding that they invited bids to several international and local suppliers early last week, and most international suppliers didn't quote due to the uncertainty of cargo date. Some Chinese suppliers quoted over USD1,200/t CIF Busan.
As an affiliated company of SeAH Group-leading company, SeAH Special Steel Co., Ltd. mainly produces stainless steel and wire rod. Their annual consumption capacity of ferrosilicon is about 4,800t, they consumed around 300t in January, and plans to have the similar consumption in February, holding around 200t of stocks.
Current mainstream export quotations for ferrosilicon 75%min from China is USD1,150-1,200/t FOB China, up by about USD50/t late January due to the scarce export supply restricted by the almost paused logistics in China. Insiders believe the export prices of Chinese ferrosilicon 75%min will keep firm upon the persistent transportation restriction next week but edge down in long-term due to the sufficient stocks from Chinese suppliers.
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"We purchased 200t from a local trader at USD1,150/t D.D.P Changwon plant T/T 14 days last Friday with the delivery in early March, and the supplier informed that the material origins from China," said the source on Tuesday, adding that they invited bids to several international and local suppliers early last week, and most international suppliers didn't quote due to the uncertainty of cargo date. Some Chinese suppliers quoted over USD1,200/t CIF Busan.
As an affiliated company of SeAH Group-leading company, SeAH Special Steel Co., Ltd. mainly produces stainless steel and wire rod. Their annual consumption capacity of ferrosilicon is about 4,800t, they consumed around 300t in January, and plans to have the similar consumption in February, holding around 200t of stocks.
Current mainstream export quotations for ferrosilicon 75%min from China is USD1,150-1,200/t FOB China, up by about USD50/t late January due to the scarce export supply restricted by the almost paused logistics in China. Insiders believe the export prices of Chinese ferrosilicon 75%min will keep firm upon the persistent transportation restriction next week but edge down in long-term due to the sufficient stocks from Chinese suppliers.
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