Chinese S.G. cast iron prices stable
2023-03-08 08:29:31 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Upon firm prices of raw materials but limited demand from foundries, Chinese S.G. cast iron prices leveled off this week. Currently prices of S.G. cast iron Q10 Si 0.5-1.4%min, Mn 0.2%max, P 0.05%max, S 0.02%max stand at RMB3,750-3,850/t (USD541-555/t) EXW D/P, in line with late last week. Upon slow market performance while firm cost, insiders predict S.G. cast iron prices would keep flat in the coming week.
A consumer in Hebei reported that he got an offer of RMB3,810/t (USD549/t) EXW D/P for S.G. cast iron Q10 from a local producer on Tuesday and the supplier could accept bids no less than RMB3,800/t (USD548/t). "I last bought around 200t of the material at RMB3,800/t (USD548/t) one week ago," he said, adding that his supplier's stock kept going up these days while the supplier tried to hold prices flat upon potentially higher prices of coke. He has an inventory of about 300t currently, up by 100t from two weeks ago. He predicts S.G. cast iron prices would level off in the coming week.
The company, reporting an annual consumption capacity of 4,000t for S.G. cast iron, consumed about 3,000t of the material in 2022. It estimated the consumption amount would reach nearly 200t in March, similar to January.
A consumer in Shanxi told that he got an offer of RMB3,800/t (USD548/t) EXW D/P from a local producer for S.G. cast iron Q10 on Tuesday. According to his experience, he could buy the material at RMB3,760/t (USD542/t). "I last bought around 500t of the material at RMB3,760/t (USD542/t) late last week," he said, adding that many producers resumed production, so the supply increased gradually. Currently he has an inventory of about 600t, up by 300t from two weeks ago. However, supported by firm cost, producers refused to cut offers. Upon this situation, he deems that S.G. cast iron prices would remain flat in the coming week.
Owning an annual consumption capacity of 6,000t for S.G. cast iron, the company used almost 5,000t of the material in 2022. It plans to consume nearly 450t of S.G. cast iron in March, up from 400t in February.
A consumer in Hebei reported that he got an offer of RMB3,810/t (USD549/t) EXW D/P for S.G. cast iron Q10 from a local producer on Tuesday and the supplier could accept bids no less than RMB3,800/t (USD548/t). "I last bought around 200t of the material at RMB3,800/t (USD548/t) one week ago," he said, adding that his supplier's stock kept going up these days while the supplier tried to hold prices flat upon potentially higher prices of coke. He has an inventory of about 300t currently, up by 100t from two weeks ago. He predicts S.G. cast iron prices would level off in the coming week.
The company, reporting an annual consumption capacity of 4,000t for S.G. cast iron, consumed about 3,000t of the material in 2022. It estimated the consumption amount would reach nearly 200t in March, similar to January.
A consumer in Shanxi told that he got an offer of RMB3,800/t (USD548/t) EXW D/P from a local producer for S.G. cast iron Q10 on Tuesday. According to his experience, he could buy the material at RMB3,760/t (USD542/t). "I last bought around 500t of the material at RMB3,760/t (USD542/t) late last week," he said, adding that many producers resumed production, so the supply increased gradually. Currently he has an inventory of about 600t, up by 300t from two weeks ago. However, supported by firm cost, producers refused to cut offers. Upon this situation, he deems that S.G. cast iron prices would remain flat in the coming week.
Owning an annual consumption capacity of 6,000t for S.G. cast iron, the company used almost 5,000t of the material in 2022. It plans to consume nearly 450t of S.G. cast iron in March, up from 400t in February.
