Chinese silicon metal export price moves down slightly further
2015-08-18 09:28:48 [Print]
BEIJING (Asian Metal) 18 Aug 15 - Chinese silicon metal export market remains slow and most buyers still incline to purchase from hand to mouth as the price shows no signal of picking up in a short term. Sources reported that the export spot market saw few inquiries last week, while a few buyers began to make procurement for Q4. Due to the sharp Renminbi depreciation against US dollars, overseas buyers’ counter offer has fallen fast in the recent several days. The mainstream prices for 5-5-3, 4-4-1, 3-3-0-3, 3-3-0-3 (P≤50ppm) and 2-2-0-2 fell from USD1,660-1,690/t, USD1,810-1,840/t, USD1,950-1,980/t, USD2,010-2,040/t and USD2,220-2,250/t FOB China respectively early last week to USD1,610-1,640/t, USD1,770-1,800/t, USD1,910-1,940/t, USD1,980-2,010t and USD2,180-2,210/t FOB China respectively early this week.
“We lowered offer for 5-5-3 by USD20/t to USD1,630/t FOB China early last week and further to USD1,610/t FOB China late last week, and got small orders of one or two containers. We quoted 4-4-1 and 3-3-0-3 at USD1,770/t and USD1,910/t FOB China late last week, both down by USD30/t from the prices of the previous week, but finally sealed a few small deals at USD1,750/t and USD1,900/t FOB China,” said a trader in China, with a regular export volume of around 700tpm.
The trader noted that domestic silicon metal price did not falling sharply further last week, while the export price moved down obviously due to the sharp depreciation of Renminbi against US dollars. The demand for silicon metal from overseas markets remains weak. They have a few stocks to fulfill orders in hand and do not intend to build stocks in large quantities before Chinese silicon metal price shows obvious signal of stabilizing.
A second trader in China, with a regular export volume of around 600tpm for silicon metal, claimed that they have finalized no deals on the export market in the recent week due to uncompetitive prices. Domestic silicon metal 5-5-3, 4-4-1 and 3-3-0-3 went down slightly by RMB50-100/t (USD8-16/t) to around RMB10,000/t (USD1,563/t), RMB11,000/t (USD1,719/t) and RMB11,800/t (USD1,844/t) delivered to ports respectively last week and were temporarily stable on this Monday. Moreover, Renminbi depreciated sharply against US dollars last week. And thus, they have lowered export quotations for 5-5-3, 4-4-1 and 3-3-0-3 by around USD30/t to USD1,620/t, USD1,770/t and USD1,920/t FOB China respectively in the recent one week, however, buyers claimed that they have received quotations of around USD30-40/t lower than the above level.
“A big consumer sent inquiry for Q4 last week and I think the price should be a bit high than the current market level, considering the potential price rise in Q4 in dry season and their long payment period. But at which level the price will be is unclear now, and the competition is fierce. The demand in domestic and overseas markets shows no signal of picking up in a short term and I think the silicon metal price will go down slightly further before the end of August. Many traders have not begun to build stocks in large quantities,” said the trader.
“We lowered offer for 5-5-3 by USD20/t to USD1,630/t FOB China early last week and further to USD1,610/t FOB China late last week, and got small orders of one or two containers. We quoted 4-4-1 and 3-3-0-3 at USD1,770/t and USD1,910/t FOB China late last week, both down by USD30/t from the prices of the previous week, but finally sealed a few small deals at USD1,750/t and USD1,900/t FOB China,” said a trader in China, with a regular export volume of around 700tpm.
The trader noted that domestic silicon metal price did not falling sharply further last week, while the export price moved down obviously due to the sharp depreciation of Renminbi against US dollars. The demand for silicon metal from overseas markets remains weak. They have a few stocks to fulfill orders in hand and do not intend to build stocks in large quantities before Chinese silicon metal price shows obvious signal of stabilizing.
A second trader in China, with a regular export volume of around 600tpm for silicon metal, claimed that they have finalized no deals on the export market in the recent week due to uncompetitive prices. Domestic silicon metal 5-5-3, 4-4-1 and 3-3-0-3 went down slightly by RMB50-100/t (USD8-16/t) to around RMB10,000/t (USD1,563/t), RMB11,000/t (USD1,719/t) and RMB11,800/t (USD1,844/t) delivered to ports respectively last week and were temporarily stable on this Monday. Moreover, Renminbi depreciated sharply against US dollars last week. And thus, they have lowered export quotations for 5-5-3, 4-4-1 and 3-3-0-3 by around USD30/t to USD1,620/t, USD1,770/t and USD1,920/t FOB China respectively in the recent one week, however, buyers claimed that they have received quotations of around USD30-40/t lower than the above level.
“A big consumer sent inquiry for Q4 last week and I think the price should be a bit high than the current market level, considering the potential price rise in Q4 in dry season and their long payment period. But at which level the price will be is unclear now, and the competition is fierce. The demand in domestic and overseas markets shows no signal of picking up in a short term and I think the silicon metal price will go down slightly further before the end of August. Many traders have not begun to build stocks in large quantities,” said the trader.
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