Chinese silicon metal export prices down
2023-03-28 08:21:59 [Print]
BEIJING (Asian Metal) 28 Mar 23 - Dragged by the sluggish overseas demand and softening prices in China, the current mainstream export prices of Chinese silicon metal 4-4-1 dropped by USD30/t to USD2,350-2,450/t Ex-VAT FOB China from early last week. Given the stabilizing prices in China, insiders predict the mainstream export prices of Chinese silicon metal 4-4-1 would go steady this week.
"My current offer for silicon metal 4-4-1 stands at USD2,430/t Ex-VAT FOB China with the discount of USD30/t at most for firm bids, while I insisted on USD2,430/t early last week," revealed a trader in Fujian on Monday. He added that he last sold 40t at USD2,450/t two weeks ago, and prices of silicon metal 4-4-1 in China dropped by RMB200-300/t (USD29-40/t) in the past week, and most of his overseas clients remain delaying purchases upon the weak demand. However, he pointed out that most Chinese suppliers turned reluctant to move price down further due to the high production cost, and he foresees the mainstream export prices of Chinese silicon metal 4-4-1 would go steady this week.
Based on a regular monthly trading volume of 200t of silicon metal, the trader expects to sell around 100t in March, down by about 50t from last month, keeping no stocks at present.
An importer in South Korea revealed that the current offer for silicon metal 4-4-1 from a regular Chinese supplier stands at USD2,400/t CIF Incheon with the discount of USD20/t at most for firm bids, and the supplier insisted on USD2,420/t early last week. "Most Chinese suppliers moved prices down by USD30-50/t this week due to the dropped prices in China in the past week but turned reluctant to move down further as Chinese silicon metal plants suffered losing money and hold prices firm now," revealed the importer on Monday who last purchased 60t at USD2,420/t early last week. He added that he plans to purchase 80t this week and would finish the purchase within this week as he foresees the mainstream export prices of Chinese silicon metal 4-4-1 in China would go firm this week.
Based on a regular monthly import volume of 150t of silicon metal, the importer expects to import around 100t in March, unchanged from last month, holding no stocks.
"My current offer for silicon metal 4-4-1 stands at USD2,430/t Ex-VAT FOB China with the discount of USD30/t at most for firm bids, while I insisted on USD2,430/t early last week," revealed a trader in Fujian on Monday. He added that he last sold 40t at USD2,450/t two weeks ago, and prices of silicon metal 4-4-1 in China dropped by RMB200-300/t (USD29-40/t) in the past week, and most of his overseas clients remain delaying purchases upon the weak demand. However, he pointed out that most Chinese suppliers turned reluctant to move price down further due to the high production cost, and he foresees the mainstream export prices of Chinese silicon metal 4-4-1 would go steady this week.
Based on a regular monthly trading volume of 200t of silicon metal, the trader expects to sell around 100t in March, down by about 50t from last month, keeping no stocks at present.
An importer in South Korea revealed that the current offer for silicon metal 4-4-1 from a regular Chinese supplier stands at USD2,400/t CIF Incheon with the discount of USD20/t at most for firm bids, and the supplier insisted on USD2,420/t early last week. "Most Chinese suppliers moved prices down by USD30-50/t this week due to the dropped prices in China in the past week but turned reluctant to move down further as Chinese silicon metal plants suffered losing money and hold prices firm now," revealed the importer on Monday who last purchased 60t at USD2,420/t early last week. He added that he plans to purchase 80t this week and would finish the purchase within this week as he foresees the mainstream export prices of Chinese silicon metal 4-4-1 in China would go firm this week.
Based on a regular monthly import volume of 150t of silicon metal, the importer expects to import around 100t in March, unchanged from last month, holding no stocks.
