Chinese ferrosilicon 72%min participants pessimistic about the market
2023-03-20 08:44:04 [Print]
BEIJING (Asian Metal) 20 Mar 23 - Even though most suppliers held their prices unchanged in view of inactive market but high raw material prices, most consumers hold the negative attitudes about the market discouraged by sluggish demand and insiders believe that the mainstream prices of Chinese ferrosilicon 72%min would edge down in the coming week. Currently, the mainstream prices of Chinese ferrosilicon 72min 10-50mm stand at RMB7,600-7,800/t (USD1,104-1,133/t) EXW D/P, unchanged from yesterday.
A consumer from Henan mentioned that they hold downbeat attitude towards the market due to weak demand from the end market and predict that the mainstream prices of Chinese ferrosilicon 72%min would move down in the following week. "We postponed the regular purchase 200t today to next week and last purchased 200t at RMB7,900/t (USD1,147/t) late last month", the consumer noted. The best price for ferrosilicon 72%min 10-50mm they received today stood at RMB7,600/t (USD1,104/t) EXW D/P and most suppliers also insisted on such price without any counteroffer yesterday.
The consumer, with a regular annual consumption capacity of 3,600t, expects to consume about 200t in March, in line with last month. They have nearly 50t in stock.
Another consumer from Anhui disclosed, "We hold the negative attitude about the market for weak demand from steel mills". As they believe the mainstream prices of Chinese ferrosilicon 72%min would slip in the coming week dragged by sluggish demand, they would like to reduce the purchase amount by 200t late next week and would purchase the rest a week later while they bought 300t as scheduled before this week. The consumer didn't purchase today and last purchased 300t at RMB8,150/t (USD1,184/t) Delivered D/A180days with the freight of RMB400/t (USD58/t). The most competitive price of ferrosilicon 72%min 10-50mm from the most suppliers today stood at RMB7,600/t (USD1,104/t) and they received the same best price yesterday.
Based on the typical consumption capacity of 3,600t, the consumer predicts to consume around 300t in March, on par with the previous month. They have an inventory of approximately 300t at the moment.
A consumer from Henan mentioned that they hold downbeat attitude towards the market due to weak demand from the end market and predict that the mainstream prices of Chinese ferrosilicon 72%min would move down in the following week. "We postponed the regular purchase 200t today to next week and last purchased 200t at RMB7,900/t (USD1,147/t) late last month", the consumer noted. The best price for ferrosilicon 72%min 10-50mm they received today stood at RMB7,600/t (USD1,104/t) EXW D/P and most suppliers also insisted on such price without any counteroffer yesterday.
The consumer, with a regular annual consumption capacity of 3,600t, expects to consume about 200t in March, in line with last month. They have nearly 50t in stock.
Another consumer from Anhui disclosed, "We hold the negative attitude about the market for weak demand from steel mills". As they believe the mainstream prices of Chinese ferrosilicon 72%min would slip in the coming week dragged by sluggish demand, they would like to reduce the purchase amount by 200t late next week and would purchase the rest a week later while they bought 300t as scheduled before this week. The consumer didn't purchase today and last purchased 300t at RMB8,150/t (USD1,184/t) Delivered D/A180days with the freight of RMB400/t (USD58/t). The most competitive price of ferrosilicon 72%min 10-50mm from the most suppliers today stood at RMB7,600/t (USD1,104/t) and they received the same best price yesterday.
Based on the typical consumption capacity of 3,600t, the consumer predicts to consume around 300t in March, on par with the previous month. They have an inventory of approximately 300t at the moment.