Import prices of silicon metal in South Korea down
2023-03-07 08:34:53 [Print]
BEIJING (Asian Metal) 7 Mar 23 - Dragged by the sufficient supply from international suppliers and sluggish demand in South Korea, the current mainstream import prices of silicon metal 4-4-1 in South Korea edged down by USD30/t to USD2,500-2,600/t CIF Busan from early last week. Given the sluggish demand, insiders predict the mainstream import prices of silicon metal 4-4-1 in South Korea would still have some room to move down this week.
A trader in South Korea disclosed that he bought 40t of silicon metal 4-4-1 at USD2,500/t CIF Busan on Monday from a regular Chinese supplier who insisted on USD2,430/t early last week. "Upon the sufficient supply in China, the Chinese supplier's purchase cost decreased by about USD30/t and he gave me some discount this week," revealed the trader on Monday. He added that he usually purchases 40t every week but only managed to purchase 40t every two weeks now due to the shrinking demand in South Korea, and he predicts the mainstream import prices of silicon metal 4-4-1 in South Korea still have room to slip this week upon the sufficient supply in China and depreciating CNY.
Based on a regular monthly trading volume of 200t of silicon metal, the trader expects to purchase around 100t in March, down by about 100t from last month, holding around 50t in stock.
Another trader in South Korea revealed that the current offer for silicon metal 4-4-1 hits USD2,510/t CIF Busan this week from a regular Chinese supplier who insisted on USD2,550/t CIF early last week, and he still prefers to wait for a while. "I last purchased 60t at USD2,650/t two weeks ago, and some Chinese supplier marked prices down to boost sales upon the softened prices in China," claimed the trader on Monday. He added that his major client decreased purchase amount upon the shrank demand, and he foresees the mainstream import prices of silicon metal 4-4-1 in South Korea would keep slipping this week due to the heavy stocks in China.
Based on a regular monthly trading volume of 300t of silicon metal, the trader foresees to purchase around 100t in March, down by about 100t from last month, having no stocks.
A trader in South Korea disclosed that he bought 40t of silicon metal 4-4-1 at USD2,500/t CIF Busan on Monday from a regular Chinese supplier who insisted on USD2,430/t early last week. "Upon the sufficient supply in China, the Chinese supplier's purchase cost decreased by about USD30/t and he gave me some discount this week," revealed the trader on Monday. He added that he usually purchases 40t every week but only managed to purchase 40t every two weeks now due to the shrinking demand in South Korea, and he predicts the mainstream import prices of silicon metal 4-4-1 in South Korea still have room to slip this week upon the sufficient supply in China and depreciating CNY.
Based on a regular monthly trading volume of 200t of silicon metal, the trader expects to purchase around 100t in March, down by about 100t from last month, holding around 50t in stock.
Another trader in South Korea revealed that the current offer for silicon metal 4-4-1 hits USD2,510/t CIF Busan this week from a regular Chinese supplier who insisted on USD2,550/t CIF early last week, and he still prefers to wait for a while. "I last purchased 60t at USD2,650/t two weeks ago, and some Chinese supplier marked prices down to boost sales upon the softened prices in China," claimed the trader on Monday. He added that his major client decreased purchase amount upon the shrank demand, and he foresees the mainstream import prices of silicon metal 4-4-1 in South Korea would keep slipping this week due to the heavy stocks in China.
Based on a regular monthly trading volume of 300t of silicon metal, the trader foresees to purchase around 100t in March, down by about 100t from last month, having no stocks.
