Chinese high grade silicon metal export prices down
2023-03-10 08:31:36 [Print]
BEIJING (Asian Metal) 10 Mar 23 - Dragged by the sluggish overseas demand and softening prices in China, the current mainstream export prices of Chinese silicon metal 3-3-03 edged down by USD30/t to USD2,550-2,650/t Ex-VAT FOB China from early this week. Given the high production cost but sufficient supply and sluggish overseas demand, insiders foresee the mainstream export prices of silicon metal 3-3-03 still have room to slip next week.
A trader in Fujian disclosed that his current offer for silicon metal 3-3-03 stands at USD2,600/t FOB China with the discount of USD30/t at most for firm bids, but he didn't close any deals yet, while he insisted on USD2,620/t on Monday. "The prices of silicon metal 3-3-03 in China dropped by RMB200/t (USD29/t) this week against last week, but most overseas clients still wait for the price to go down further and hang up purchases," revealed the trader on Thursday who last sold 60t at USD2,650/t CIF Japan in the middle of February. Given the heavy stocks in China, he still holds pessimistic attitudes toward the outlook even though many producers claimed that the selling prices already lower than production cost, and he foresees the mainstream export prices of Chinese silicon metal 3-3-03 would edge down further next week.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 200t in March at most, down by 200t from last month, holding no stock.
A trader in South Korea disclosed that the current offer of silicon metal 3-3-03 hits USD2,570/t CIF Incheon on Thursday from a regular supplier who insisted on USD2,600/t on Monday, but he still has no confident that his clients in South Korea would accept the price. "Some unsolicited offers already hit about USD2,550/t CIF Incheon dragged by the depreciating CNY and softening prices in China, but his major client only plans to purchase half of his regular amount and also waits to place the order when the price approaches the bottom line," revealed the trader on Thursday who last purchased 50t at about USD2,620/t in late February, and he predicts the mainstream export prices of Chinese silicon metal 3-3-03 in South Korea would edge down further upon the shrinking demand in South Korea.
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, keeping no stocks.
A trader in Fujian disclosed that his current offer for silicon metal 3-3-03 stands at USD2,600/t FOB China with the discount of USD30/t at most for firm bids, but he didn't close any deals yet, while he insisted on USD2,620/t on Monday. "The prices of silicon metal 3-3-03 in China dropped by RMB200/t (USD29/t) this week against last week, but most overseas clients still wait for the price to go down further and hang up purchases," revealed the trader on Thursday who last sold 60t at USD2,650/t CIF Japan in the middle of February. Given the heavy stocks in China, he still holds pessimistic attitudes toward the outlook even though many producers claimed that the selling prices already lower than production cost, and he foresees the mainstream export prices of Chinese silicon metal 3-3-03 would edge down further next week.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 200t in March at most, down by 200t from last month, holding no stock.
A trader in South Korea disclosed that the current offer of silicon metal 3-3-03 hits USD2,570/t CIF Incheon on Thursday from a regular supplier who insisted on USD2,600/t on Monday, but he still has no confident that his clients in South Korea would accept the price. "Some unsolicited offers already hit about USD2,550/t CIF Incheon dragged by the depreciating CNY and softening prices in China, but his major client only plans to purchase half of his regular amount and also waits to place the order when the price approaches the bottom line," revealed the trader on Thursday who last purchased 50t at about USD2,620/t in late February, and he predicts the mainstream export prices of Chinese silicon metal 3-3-03 in South Korea would edge down further upon the shrinking demand in South Korea.
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, keeping no stocks.
