Indian silicon metal prices decrease
2014-11-21 08:49:02 [Print]
BEIJING (Asian Metal) 21 Nov 14 - As the replacement cost from China dropped sharply recently, Indian local silicon metal prices decreased. The mainstream prices for 5-5-3 are in a range of INR138-141/kg (USD2,225-2,273/t) now, down by INR1/kg (USD16/t) against those of last week.
A trader in India, with a regular trading volume of around 200tpm for silicon metal, cited the current prices for 5-5-3 at INR138/kg (USD2,225/t), which dropped by INR2/kg (USD32/t) against the prices of INR140/kg (USD2,257/t) of early November. The source told Asian Metal that they purchased 120t of 5-5-3 from China through agency at RMB12,200-12,300/t (USD1,987-2,003/t) in Huangpu port early this week, a decrease of around RMB100/t (USD16/t) against those of last week.
The source noted that demand for silicon metal in the local market is weak now and they receive few inquiries. Chinese silicon metal prices are moving down and they incline to purchase on orders.
A source from an aluminum alloy plant in India, with a regular consumption of around 100tpm for silicon metal, claimed that they sent an inquiry of 5-5-3 for immediate shipment early this week and suppliers in China quoted the material at around USD2,100-2,120/t CIF Nhava Sheva, down sharply against their last purchasing price of USD2,170/t CIF Nhava Sheva in late October.
The source added that their demand for silicon metal did not see big changes recently and they do not intend to hold stocks when the prices are falling, and thus, they purchase silicon metal on hand-to-mouth basis now.
A trader in India, with a regular trading volume of around 200tpm for silicon metal, cited the current prices for 5-5-3 at INR138/kg (USD2,225/t), which dropped by INR2/kg (USD32/t) against the prices of INR140/kg (USD2,257/t) of early November. The source told Asian Metal that they purchased 120t of 5-5-3 from China through agency at RMB12,200-12,300/t (USD1,987-2,003/t) in Huangpu port early this week, a decrease of around RMB100/t (USD16/t) against those of last week.
The source noted that demand for silicon metal in the local market is weak now and they receive few inquiries. Chinese silicon metal prices are moving down and they incline to purchase on orders.
A source from an aluminum alloy plant in India, with a regular consumption of around 100tpm for silicon metal, claimed that they sent an inquiry of 5-5-3 for immediate shipment early this week and suppliers in China quoted the material at around USD2,100-2,120/t CIF Nhava Sheva, down sharply against their last purchasing price of USD2,170/t CIF Nhava Sheva in late October.
The source added that their demand for silicon metal did not see big changes recently and they do not intend to hold stocks when the prices are falling, and thus, they purchase silicon metal on hand-to-mouth basis now.
Silicon Metal 98.5%min Delivered US
Unit:USD/lb
China silicon metal producers' output statistics by province by month
Unit: mt
