Chinese ferrosilicon 72%min prices flat
2023-03-23 08:31:51 [Print]
EIJING (Asian Metal) 23 Mar 23 - Given weak demand from steel mills but high raw material prices, the current mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand at RMB7,600-7,800/t (USD1,104-1,133/t) EXW D/P, unchanged from early this week. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would keep steady by the end of this week because of limited deals and high raw material prices.
A producer from Ningxia mentioned that they targeted to sell ferrosilicon 72%min 10-50mm at prices no less than RMB7,600/t (USD1,104/t) EXW D/P today. "We didn't close any deal in the past two weeks and last sold 200t at RMB7,700/t (USD1,118/t) two weeks ago. We stuck to RMB7,600/t (USD1,104/t) from early this week", the producer revealed, adding that the price of semi coke kept stable from late last week when they bought around 600t at RMB1,500/t (USD218/t) Delivered. They believe that the mainstream prices of Chinese ferrosilicon 72%min would remain stable within this week given limited deals but high raw material prices.
Based on the annual production capacity of 90,000t, the producer plans to produce about 4,500t in March, in line with last month. They hold an inventory of nearly 1,000t currently.
A trader from Henan disclosed, "The best price of ferrosilicon 72%min 10-50mm we received today stood at RMB7,600/t (USD1,104/t) with no more concession and most suppliers insisted on such price from early this week". They didn't purchase today because they didn't receive any order from the downstream and last purchased 300t at RMB7,600/t (USD1,104/t) late last week. The trader predicts that the mainstream prices of Chinese ferrosilicon 72%min would keep unchanged by the end of this week for firm prices from most suppliers.
The trader, with a regular trading volume of 500tpm, expects to sell around 400t in March, on par with the previous month. They have approximately 60t in stock at the moment.
A producer from Ningxia mentioned that they targeted to sell ferrosilicon 72%min 10-50mm at prices no less than RMB7,600/t (USD1,104/t) EXW D/P today. "We didn't close any deal in the past two weeks and last sold 200t at RMB7,700/t (USD1,118/t) two weeks ago. We stuck to RMB7,600/t (USD1,104/t) from early this week", the producer revealed, adding that the price of semi coke kept stable from late last week when they bought around 600t at RMB1,500/t (USD218/t) Delivered. They believe that the mainstream prices of Chinese ferrosilicon 72%min would remain stable within this week given limited deals but high raw material prices.
Based on the annual production capacity of 90,000t, the producer plans to produce about 4,500t in March, in line with last month. They hold an inventory of nearly 1,000t currently.
A trader from Henan disclosed, "The best price of ferrosilicon 72%min 10-50mm we received today stood at RMB7,600/t (USD1,104/t) with no more concession and most suppliers insisted on such price from early this week". They didn't purchase today because they didn't receive any order from the downstream and last purchased 300t at RMB7,600/t (USD1,104/t) late last week. The trader predicts that the mainstream prices of Chinese ferrosilicon 72%min would keep unchanged by the end of this week for firm prices from most suppliers.
The trader, with a regular trading volume of 500tpm, expects to sell around 400t in March, on par with the previous month. They have approximately 60t in stock at the moment.
