Chinese ferrosilicon 72%min export market sees rare deals
2023-03-24 10:28:57 [Print]
BEIJING (Asian Metal) 24 Mar 23 - Although most overseas clients remained active in sending inquiries, Chinese ferrosilicon 72%min export market witnessed rare deals due to less firm bids from early this week. The mainstream export prices of Chinese ferrosilicon 72%min 10-50mm hover at USD1,440-1,470/t Ex-VAT FOB China at present, unchanged from early this week
A trader from Henan mentioned that they failed to close deals because most clients asked much lower prices this week while they received inquiries and closed deal in three to four days before mid this month. "We targeted to export ferrosilicon 72%min 10-50mm at USD1,460/t Ex-VAT FOB China with a concession as much as USD10/t today and we stuck to this price from early this month", revealed the trader, adding that they didn't close any deal in the past two weeks and last sold 50t at USD1,450/t two weeks ago . They hold the view that the mainstream export prices of Chinese ferrosilicon 72%min would remain flat in the following week supported by firm domestic prices.
The trader, with a regular monthly export volume of 600t, expects to export about 200t in March, up by 100t from last month for sluggish demand in February. They don't have any inventory at the moment.
Another trader in Henan disclosed, "We didn't close any deal in the past two weeks since clients didn't inquire for firm bids while we received four to five inquiries weekly and we closed one or two deals among them before mid of March". Their best export price for ferrosilicon 72%min 10-50mm stood at USD1,460/t Ex-VAT FOB China without any counteroffer today and they stuck to this price from early this week. The trader didn't close any deal today and last sold 100t at USD1,470/t two weeks ago . They believe the mainstream export prices of Chinese ferrosilicon 72%min would stay unchanged in the coming week due to flat domestic prices.
Based on the typical monthly export volume of 200t, the trader predicts to export around 200t in March, on par with the previous month. They hold no stock currently.
. As most exporters try to hold their prices unchanged due to firm domestic prices, insiders predict that the mainstream prices of Chinese ferrosilicon 72%min would keep stable in the coming week.
A trader from Henan mentioned that they failed to close deals because most clients asked much lower prices this week while they received inquiries and closed deal in three to four days before mid this month. "We targeted to export ferrosilicon 72%min 10-50mm at USD1,460/t Ex-VAT FOB China with a concession as much as USD10/t today and we stuck to this price from early this month", revealed the trader, adding that they didn't close any deal in the past two weeks and last sold 50t at USD1,450/t two weeks ago . They hold the view that the mainstream export prices of Chinese ferrosilicon 72%min would remain flat in the following week supported by firm domestic prices.
The trader, with a regular monthly export volume of 600t, expects to export about 200t in March, up by 100t from last month for sluggish demand in February. They don't have any inventory at the moment.
Another trader in Henan disclosed, "We didn't close any deal in the past two weeks since clients didn't inquire for firm bids while we received four to five inquiries weekly and we closed one or two deals among them before mid of March". Their best export price for ferrosilicon 72%min 10-50mm stood at USD1,460/t Ex-VAT FOB China without any counteroffer today and they stuck to this price from early this week. The trader didn't close any deal today and last sold 100t at USD1,470/t two weeks ago . They believe the mainstream export prices of Chinese ferrosilicon 72%min would stay unchanged in the coming week due to flat domestic prices.
Based on the typical monthly export volume of 200t, the trader predicts to export around 200t in March, on par with the previous month. They hold no stock currently.