Chinese ferrosilicon 75%min prices firm
2023-03-27 08:37:26 [Print]
BEIJING (Asian Metal) 27 Mar 23 - In spite of weak demand from the end market, most suppliers held their prices firm due to reducing supply. The current mainstream prices of Chinese ferrosilicon 75%min 200-500mm stand at RMB7,900-8,000/t (USD1,158-1,173/t) EXW D/P, unchanged from yesterday. Insiders predict the mainstream prices of Chinese ferrosilicon 72%min would remain stable in the coming week in view of weak demand from the downstream and reducing supply.
A consumer from Inner Mongolia disclosed, "The best price for ferrosilicon 75%min 200-500mm we received today stood at RMB8,000/t (USD1,173/t) EXW D/P and most suppliers insisted on this price from yesterday". They didn't purchased today and last purchased 200t at RMB8,050/t (USD1,180/t) Delivered with a freight of RMB80/t (USD12/t) early this week. The producer further reveled that they planned to purchase 300t today but suppliers didn't have enough inventories and would arrange shipment mid next week, while they easily received the materials within three days before mid of March. They hold the view that the mainstream prices of Chinese ferrosilicon 75%min would keep flat in the following week given that most suppliers held their prices firm.
The consumer, with an annual consumption capacity of 36,000t, expects to consume about 2,700t in March, on par with last month. They hold nearly 500t in stock currently.
Another consumer in Shanxi mentioned that the most competitive offer of ferrosilicon 75%min 200-500mm they received from yesterday stood at RMB8,000/t (USD1,173/t) EXW D/P without any counteroffer. "We didn't purchase today since we purchase weekly as scheduled and last purchased 500t at RMB8,100/t (USD1,188/t) Delivered with a freight of RMB170/t (USD25/t) early this week", noted the consumer. They believe that the mainstream prices of Chinese ferrosilicon 75%min would remain steady in the coming week because of firm prices from most suppliers and reducing supply.
Based on the consumption capacity of 36,000tpy, the trader predicts to consume around 2,400t in March, in line with the previous month. They have an inventory of approximately 350t at the moment.
A consumer from Inner Mongolia disclosed, "The best price for ferrosilicon 75%min 200-500mm we received today stood at RMB8,000/t (USD1,173/t) EXW D/P and most suppliers insisted on this price from yesterday". They didn't purchased today and last purchased 200t at RMB8,050/t (USD1,180/t) Delivered with a freight of RMB80/t (USD12/t) early this week. The producer further reveled that they planned to purchase 300t today but suppliers didn't have enough inventories and would arrange shipment mid next week, while they easily received the materials within three days before mid of March. They hold the view that the mainstream prices of Chinese ferrosilicon 75%min would keep flat in the following week given that most suppliers held their prices firm.
The consumer, with an annual consumption capacity of 36,000t, expects to consume about 2,700t in March, on par with last month. They hold nearly 500t in stock currently.
Another consumer in Shanxi mentioned that the most competitive offer of ferrosilicon 75%min 200-500mm they received from yesterday stood at RMB8,000/t (USD1,173/t) EXW D/P without any counteroffer. "We didn't purchase today since we purchase weekly as scheduled and last purchased 500t at RMB8,100/t (USD1,188/t) Delivered with a freight of RMB170/t (USD25/t) early this week", noted the consumer. They believe that the mainstream prices of Chinese ferrosilicon 75%min would remain steady in the coming week because of firm prices from most suppliers and reducing supply.
Based on the consumption capacity of 36,000tpy, the trader predicts to consume around 2,400t in March, in line with the previous month. They have an inventory of approximately 350t at the moment.
