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South Korean Dongkuk steel's ferrosilicon tender for Q2 fixed
2020-03-25 14:43:47 【Print】
BEIJING (Asian Metal) 25 Mar 20 - As the second largest EAF steel maker in South Korea, Dongkuk steel mill finalized the ferrosilicon 75%min purchase for Q2 on Monday for 1,000t at USD1,010/t D.D.P T/T 14 days, disclosed the winning supplier.
"We won the tender 1,000t of ferrosilicon 75%min at USD1,010/t D.D.P on Monday which is equivalent to about USD970/t CIF South Korean port for Q2, and the cargo should be delivered in each month," disclosed the trader in South Korea on Tuesday, adding that the material origins from China.
Dongkuk steel mill is the second largest EAF steel producer in South Korea after Hyundai steel. With an annual consumption capacity of 6,000t for ferrosilicon, the steel mill consumed 1,200t in Q1, and expects slightly decreased consumption volume in Q2 due to the coronavirus outbreak, holding around 300t of stocks in hand.
Current mainstream prices of ferrosilicon 75%min in spot market in South Korea stand at USD1,000-1,030/t CIF South Korea, slightly down by USD20/t from early last week. On account of the decreased demand, insiders believe ferrosilicon 75%min prices in South Korea would keep slipping in the following week.
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"We won the tender 1,000t of ferrosilicon 75%min at USD1,010/t D.D.P on Monday which is equivalent to about USD970/t CIF South Korean port for Q2, and the cargo should be delivered in each month," disclosed the trader in South Korea on Tuesday, adding that the material origins from China.
Dongkuk steel mill is the second largest EAF steel producer in South Korea after Hyundai steel. With an annual consumption capacity of 6,000t for ferrosilicon, the steel mill consumed 1,200t in Q1, and expects slightly decreased consumption volume in Q2 due to the coronavirus outbreak, holding around 300t of stocks in hand.
Current mainstream prices of ferrosilicon 75%min in spot market in South Korea stand at USD1,000-1,030/t CIF South Korea, slightly down by USD20/t from early last week. On account of the decreased demand, insiders believe ferrosilicon 75%min prices in South Korea would keep slipping in the following week.
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