Chinese ferrosilicon 72%min prices steady
2023-03-27 08:37:24 [Print]
BEIJING (Asian Metal) 27 Mar 23 - In consideration of weak demand from the steel mills and high raw material prices, most producers held their prices unchanged today. Therefore, the current mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand flat at RMB7,600-7,800/t (USD 1,114-1,144/t) EXW D/P from yesterday. Insiders believe that the mainstream prices of Chinese ferrosilicon 72%min would slip in the coming week due to fewer deals.
A producer from Shaanxi mentioned that they would like to sell the ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,114/t) EXW D/P without any counteroffer and they insisted on such price from mid this week. "We didn't close any deal in the past two weeks and last sold 500t at RMB7,650/t (USD1,122/t) two weeks ago", the producer noted, adding that they closed two to three deals weekly before mid of March. They would consider reducing production next week and hold the view that the mainstream prices of Chinese ferrosilicon 72%min would go down in the following week dragged by limited deals.
The producer, with an annual production capacity of 84,000t, plans to produce about 4,500t in March, down by 1,500t from last month for weak demand. They have the inventory of nearly 10,000t currently
Another producer in Ningxia disclosed, "Our best price for ferrosilicon 72%min stands at RMB7,600/t (USD1,114/t) EXW D/P today and we stuck to such price from yesterday". They didn't close any deal yet and last sold 400t at RMB7,700/t (USD1,129/t) early this week. The producer further revealed that they only close one deal from last week while they easily closed four to five deals weekly before mid of March. They predict that the mainstream prices of Chinese ferrosilicon 72%min would decrease in the coming week discouraged by scarce deals.
Based on the production capacity of 81,000tpy, the producer expects to produce around 2,000t in March, down by 1,000t from the previous month for sluggish demand. They hold no stock at the moment.
A producer from Shaanxi mentioned that they would like to sell the ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,114/t) EXW D/P without any counteroffer and they insisted on such price from mid this week. "We didn't close any deal in the past two weeks and last sold 500t at RMB7,650/t (USD1,122/t) two weeks ago", the producer noted, adding that they closed two to three deals weekly before mid of March. They would consider reducing production next week and hold the view that the mainstream prices of Chinese ferrosilicon 72%min would go down in the following week dragged by limited deals.
The producer, with an annual production capacity of 84,000t, plans to produce about 4,500t in March, down by 1,500t from last month for weak demand. They have the inventory of nearly 10,000t currently
Another producer in Ningxia disclosed, "Our best price for ferrosilicon 72%min stands at RMB7,600/t (USD1,114/t) EXW D/P today and we stuck to such price from yesterday". They didn't close any deal yet and last sold 400t at RMB7,700/t (USD1,129/t) early this week. The producer further revealed that they only close one deal from last week while they easily closed four to five deals weekly before mid of March. They predict that the mainstream prices of Chinese ferrosilicon 72%min would decrease in the coming week discouraged by scarce deals.
Based on the production capacity of 81,000tpy, the producer expects to produce around 2,000t in March, down by 1,000t from the previous month for sluggish demand. They hold no stock at the moment.
