Chinese ferrosilicon 72%min producers downbeat towards the market
2023-03-16 08:34:55 [Print]
BEIJING (Asian Metal) 16 Mar 23 – Most supplier hold pessimistic attitudes about the market due to weak demand while they held their prices unchanged given high raw material prices. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would weaken within this week dragged by weak demand. Currently, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand at RMB7,600-7,800/t (USD1,105-1,134/t) EXW D/P, unchanged from yesterday.
A producer from Shaanxi mentioned that they hold negative attitude towards the market because of limited deals. "We didn't close any deal this week while we closed five to six deals weekly before March", noted the producer, adding that the semi coke price stood stable at RMB1,500/t (USD218/t) Delivered from early this week when they bought 500t. They insisted on selling ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,105/t) EXW D/P from yesterday and last sold 100t at RMB7,700/t (USD1,119/t) late last week. The producer wouldn't lower their price within this week and believe the mainstream prices of Chinese ferrosilicon would remain flat temporarily by the end of this wee.
The producer, with an annual production capacity of 60,000t, plans to produce about 5,000t in March, in line with last month. They don't have any inventory currently.
Another producer in Shaanxi disclosed, "We hold pessimistic attitude about the market due to limited deals and fewer inquiries. We predict the mainstream prices of Chinese ferrosilicon 72%min would soften by the end of this week because they only received one deal in the past two weeks and they received one to two deals weekly before March. Their best offer for ferrosilicon 72%min 10-50mm stood at RMB7,700/t (USD1,119/t) from yesterday. The producer didn't close any deal today and closed their only deal of 2,000t so far this month at this price early last week.
Based on the production capacity of 30,000t, the producer expects to produce around 2,000t in March, on par with the previous month. They hold no stock at the moment.
A producer from Shaanxi mentioned that they hold negative attitude towards the market because of limited deals. "We didn't close any deal this week while we closed five to six deals weekly before March", noted the producer, adding that the semi coke price stood stable at RMB1,500/t (USD218/t) Delivered from early this week when they bought 500t. They insisted on selling ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,105/t) EXW D/P from yesterday and last sold 100t at RMB7,700/t (USD1,119/t) late last week. The producer wouldn't lower their price within this week and believe the mainstream prices of Chinese ferrosilicon would remain flat temporarily by the end of this wee.
The producer, with an annual production capacity of 60,000t, plans to produce about 5,000t in March, in line with last month. They don't have any inventory currently.
Another producer in Shaanxi disclosed, "We hold pessimistic attitude about the market due to limited deals and fewer inquiries. We predict the mainstream prices of Chinese ferrosilicon 72%min would soften by the end of this week because they only received one deal in the past two weeks and they received one to two deals weekly before March. Their best offer for ferrosilicon 72%min 10-50mm stood at RMB7,700/t (USD1,119/t) from yesterday. The producer didn't close any deal today and closed their only deal of 2,000t so far this month at this price early last week.
Based on the production capacity of 30,000t, the producer expects to produce around 2,000t in March, on par with the previous month. They hold no stock at the moment.
