Import prices of silicon metal in South Korea down
2023-03-22 08:22:08 [Print]
BEIJING (Asian Metal) 22 Mar 23 - Dragged by the dropping prices in China, the current mainstream import prices of silicon metal 4-4-1 dropped by USD30/t to USD2,400-2,500/t CIF South Korea from early last week. Given the heavy stocks in China, insiders foresee the mainstream import prices of silicon metal 4-4-1 in South Korea would go down further next week.
A trader in South Korea disclosed that the current offer for silicon metal 4-4-1 from a Chinese supplier stands at USD2,420/t CIF Busan with the discount of USD20/t at most for firm bids, and he purchased 20t at USD2,400/t on Tuesday, while the supplier insisted on USD2,430/t early last week. "The dropped prices in China dragged most Chinese exporters' prices down by USD30-50/t this week, and I predicts the mainstream import prices of silicon metal 4-4-1 in South Korea would go down further next week, so I only purchase from hand to mouth now," disclosed the trader on Tuesday.
Based on a regular monthly trading volume of 100t of silicon metal, the trader expects to purchase around 50t in March, down by about 50t from last month, holding no stocks at present.
Another trader in South Korea indicated that the current offer for silicon metal 4-4-1 stands at USD2,450/t CIF Incheon with the discount of USD30/t at most for firm bids, but he didn't want to take risks to purchase this week upon the downward price trend, while the supplier insisted on USD2,450/t early last week. "Prices in China keep dropping every day this week and last week, and I hang up purchase after I last purchased 40t at USD2,550/t two weeks ago," revealed the trader on Tuesday. He added that the demand from South Korean aluminum plants curtailed, and he predicts the mainstream import prices of silicon metal 4-4-1 in South Korea would go down further next week upon the heavy stocks in China.
With a regular monthly trading volume of 200t of silicon metal, the trader expects to purchase around 100t in March, a decrease of about 100t from last month, keeping no stocks.
A trader in South Korea disclosed that the current offer for silicon metal 4-4-1 from a Chinese supplier stands at USD2,420/t CIF Busan with the discount of USD20/t at most for firm bids, and he purchased 20t at USD2,400/t on Tuesday, while the supplier insisted on USD2,430/t early last week. "The dropped prices in China dragged most Chinese exporters' prices down by USD30-50/t this week, and I predicts the mainstream import prices of silicon metal 4-4-1 in South Korea would go down further next week, so I only purchase from hand to mouth now," disclosed the trader on Tuesday.
Based on a regular monthly trading volume of 100t of silicon metal, the trader expects to purchase around 50t in March, down by about 50t from last month, holding no stocks at present.
Another trader in South Korea indicated that the current offer for silicon metal 4-4-1 stands at USD2,450/t CIF Incheon with the discount of USD30/t at most for firm bids, but he didn't want to take risks to purchase this week upon the downward price trend, while the supplier insisted on USD2,450/t early last week. "Prices in China keep dropping every day this week and last week, and I hang up purchase after I last purchased 40t at USD2,550/t two weeks ago," revealed the trader on Tuesday. He added that the demand from South Korean aluminum plants curtailed, and he predicts the mainstream import prices of silicon metal 4-4-1 in South Korea would go down further next week upon the heavy stocks in China.
With a regular monthly trading volume of 200t of silicon metal, the trader expects to purchase around 100t in March, a decrease of about 100t from last month, keeping no stocks.
