Chinese ferrosilicon 72%min prices flat
2023-03-24 10:29:03 [Print]
BEIJING (Asian Metal) 24 Mar 23 - Given weak demand from the downstream but high production costs, the current mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand unchanged at RMB7,600-7,800/t (USD1,123-1,142/t) EXW D/P from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would slip in the coming week due to limited deals.
A producer from Gansu disclosed, "Our current offer for ferrosilicon 72%min 10-50mm stands at RMB7,600/t (USD1,123/t) EXW D/P without any counteroffer and we insisted on such price from yesterday." They didn't close any deal today and last sold 200t at this price early this week. The producer, adding that they closed two deals from early last week while they closed three to four deals weekly before early this month, believes that the mainstream prices of Chinese ferrosilicon 72%min would move down in the following week dragged by limited deals.
The producer, with an annual production capacity of 12,500t, plans to produce about 1,000t in March, in line with last month. They hold no stock at the moment.
Another producer from Shaanxi mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,650/t (USD1,120/t) EXW D/P and they couldn't consider any lower price than RMB7,600/t (USD1,123/t) today. "We didn't close any deal today and sold 300t at RMB7,600/t (USD1,123/t) yesterday when we stuck to such price", the producer noted. They further revealed that they could arrange shipment within three days for new orders now due to scarce deals, while they arranged their earliest shipment more than a week two weeks ago. The producer predicts that the mainstream prices of Chinese ferrosilicon 72%min would edge down in the coming week discouraged by scarce deals.
Based on the production capacity of 85,000tpy for ferrosilicon 72%min and 75%min, the producer expects to produce around 2,000t with one 40,500kVA furnace under operation, down by 1,000t from the previous month for weak demand from the downstream. They don't have any inventory currently.
A producer from Gansu disclosed, "Our current offer for ferrosilicon 72%min 10-50mm stands at RMB7,600/t (USD1,123/t) EXW D/P without any counteroffer and we insisted on such price from yesterday." They didn't close any deal today and last sold 200t at this price early this week. The producer, adding that they closed two deals from early last week while they closed three to four deals weekly before early this month, believes that the mainstream prices of Chinese ferrosilicon 72%min would move down in the following week dragged by limited deals.
The producer, with an annual production capacity of 12,500t, plans to produce about 1,000t in March, in line with last month. They hold no stock at the moment.
Another producer from Shaanxi mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,650/t (USD1,120/t) EXW D/P and they couldn't consider any lower price than RMB7,600/t (USD1,123/t) today. "We didn't close any deal today and sold 300t at RMB7,600/t (USD1,123/t) yesterday when we stuck to such price", the producer noted. They further revealed that they could arrange shipment within three days for new orders now due to scarce deals, while they arranged their earliest shipment more than a week two weeks ago. The producer predicts that the mainstream prices of Chinese ferrosilicon 72%min would edge down in the coming week discouraged by scarce deals.
Based on the production capacity of 85,000tpy for ferrosilicon 72%min and 75%min, the producer expects to produce around 2,000t with one 40,500kVA furnace under operation, down by 1,000t from the previous month for weak demand from the downstream. They don't have any inventory currently.
