Chinese ferrosilicon 75%min exporters positive about the market
2023-03-17 09:37:25 [Print]
BEIJING (Asian Metal) 17 Mar 23 - In consideration of more inquiries from the overseas and firm domestic prices, most exporters held positive attitudes and lifted their prices from early this week. Therefore, the mainstream export prices of Chinese ferrosilicon 75%min 10-50mm stand at USD1,520-1,550/t Ex-VAT FOB China, up by USD30/t from early this week
A trader from Shanxi mentioned that they hold the upbeat attitude towards the market because they received two inquiries this week while they only received two inquiries in the past two weeks. "We would consider increasing our price by another USD10/t by the end of this week and we believe the mainstream prices of Chinese ferrosilicon 75%min would move up further in the following week", the trader noted. They would like to export ferrosilicon 75%min 10-50mm at USD1,560/t Ex-VAT FOB China with a concession as much as USD10/t today while they insisted on USD1,520/t without any counteroffer early this week. The trader sold 100t at USD1,580/t CIF Japan today with the freight of around USD30/t and last sold 100t at USD1,520/t FOB China early this month.
The trader, with a regular monthly exporting volume of 300t, plans to export about 300t in March, up by 100t from last month for more inquiries. They don't have any inventory currently.
Another trader in Henan disclosed, "We already received four inquiries this week but we decide to quote next week as we hold positive attitude about the market and predict that the mainstream export prices would edge up further in the following week." They wouldn't quote proactively this week rather than quote a higher price next week because they predict the mainstream export prices of Chinese ferrosilicon 75%min would go up. Their target price of ferrosilicon 75%min 10-50mm stood at USD1,550/t Ex-VAT FOB China today while they couldn't consider any price lower USD1,510/t early this week. The trader didn't close any deal today and last sold 60t at USD1,520/t two weeks ago.
Based on the typical export volume of 500tpm, the trader predicts to export around 200t in March, on par with last month. They hold no stock at the moment.
. Insiders hold the view that the mainstream export prices of Chinese ferrosilicon 75%min would edge up in the coming week due to more inquiries.
A trader from Shanxi mentioned that they hold the upbeat attitude towards the market because they received two inquiries this week while they only received two inquiries in the past two weeks. "We would consider increasing our price by another USD10/t by the end of this week and we believe the mainstream prices of Chinese ferrosilicon 75%min would move up further in the following week", the trader noted. They would like to export ferrosilicon 75%min 10-50mm at USD1,560/t Ex-VAT FOB China with a concession as much as USD10/t today while they insisted on USD1,520/t without any counteroffer early this week. The trader sold 100t at USD1,580/t CIF Japan today with the freight of around USD30/t and last sold 100t at USD1,520/t FOB China early this month.
The trader, with a regular monthly exporting volume of 300t, plans to export about 300t in March, up by 100t from last month for more inquiries. They don't have any inventory currently.
Another trader in Henan disclosed, "We already received four inquiries this week but we decide to quote next week as we hold positive attitude about the market and predict that the mainstream export prices would edge up further in the following week." They wouldn't quote proactively this week rather than quote a higher price next week because they predict the mainstream export prices of Chinese ferrosilicon 75%min would go up. Their target price of ferrosilicon 75%min 10-50mm stood at USD1,550/t Ex-VAT FOB China today while they couldn't consider any price lower USD1,510/t early this week. The trader didn't close any deal today and last sold 60t at USD1,520/t two weeks ago.
Based on the typical export volume of 500tpm, the trader predicts to export around 200t in March, on par with last month. They hold no stock at the moment.