Ferrosilicon prices in the US drop
2023-03-13 10:24:47 [Print]
BEIJING (Asian Metal) 10 Mar 23 - Dragged by the sluggish demand, the current mainstream prices of ferrosilicon 75%min 10-50mm in the US dropped by USD0.05/lb Si to USD1.30-1.35/lb Si in warehouse Pittsburgh T/T 30 days from early last week. Insiders predict the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further dampened by the sluggish demand next week.
A trader in the US described that he current quotes USD1.40/lb Si in warehouse Pittsburgh T/T 30 days and could give the discount of USD0.05/lb Si at most for firm bids, but he didn't close any deals yet this week. "The demand from steel mills turned weak upon the overall slow-down economic in the US, and one client targeted at USD1.25/lb Si D.D.P for 200t this week and turned out no hurry to purchase," revealed the trader on Thursday who last sold 100t at USD1.40/lb Si in late February. Given the weak demand and lower import prices of international ferrosilicon, he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further next week.
With a regular monthly trading volume for ferrosilicon around 200t in the spot market, the trader predicts to sell around 100t in March, a decrease of around 100t from last month, holding around 300t in stock.
Another trader in the US disclosed that he offered USD1.30/lb Si in warehouse Pittsburgh T/T 30 days with no more discount this week to a foundry client who plans to purchase 200t, while he insisted on USD1.35/lb Si early last week, but the clients bid USD1.22/lb Si D.D.P. "The client didn't take hurry to purchase upon their decreasing consumption and enough stocks and wait for the price to more down," claimed the trader on Thursday. He added that he last sold 100t at USD1.35/lb Si two weeks ago, and the import prices of international suppliers could hit as low as USD1.90/lb Si now, and he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down upon the few inquiries in the spot market.
The trader, based on a regular monthly trading volume for ferrosilicon around 300t in the spot market, expects to sell around 200t in March, slightly down by about 100t from last month, holding around 500t in stock.
A trader in the US described that he current quotes USD1.40/lb Si in warehouse Pittsburgh T/T 30 days and could give the discount of USD0.05/lb Si at most for firm bids, but he didn't close any deals yet this week. "The demand from steel mills turned weak upon the overall slow-down economic in the US, and one client targeted at USD1.25/lb Si D.D.P for 200t this week and turned out no hurry to purchase," revealed the trader on Thursday who last sold 100t at USD1.40/lb Si in late February. Given the weak demand and lower import prices of international ferrosilicon, he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further next week.
With a regular monthly trading volume for ferrosilicon around 200t in the spot market, the trader predicts to sell around 100t in March, a decrease of around 100t from last month, holding around 300t in stock.
Another trader in the US disclosed that he offered USD1.30/lb Si in warehouse Pittsburgh T/T 30 days with no more discount this week to a foundry client who plans to purchase 200t, while he insisted on USD1.35/lb Si early last week, but the clients bid USD1.22/lb Si D.D.P. "The client didn't take hurry to purchase upon their decreasing consumption and enough stocks and wait for the price to more down," claimed the trader on Thursday. He added that he last sold 100t at USD1.35/lb Si two weeks ago, and the import prices of international suppliers could hit as low as USD1.90/lb Si now, and he predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down upon the few inquiries in the spot market.
The trader, based on a regular monthly trading volume for ferrosilicon around 300t in the spot market, expects to sell around 200t in March, slightly down by about 100t from last month, holding around 500t in stock.
