Chinese ferrosilicon 72%min prices increase
2023-03-28 08:22:02 [Print]
BEIJING (Asian Metal) 28 Mar 23 - In consideration of upcoming purchases from steel mills and more inquiries, most suppliers lift their prices today. Therefore, the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand at RMB7,650-7,850/t (USD1,112-1,141/t) EXW D/P at present, up by RMB50/t (USD7/t) from late last week. Insiders hold the view that mainstream prices of Chinese ferrosilicon 72%min would move up slightly within this week due to upcoming purchases from steel mills.
A producer from Ningxia mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,700/t (USD1,120/t) EXW D/P without any counteroffer today. "We didn't close any deal yet and last sold 600t RMB7,650/t (USD1,112/t) to a trader last Friday when we insisted on this price", the producer revealed, adding that they received three to four inquiries a day from early last week while they received five to six inquiries weekly before last week. They predict the mainstream prices of Chinese ferrosilicon 72%min would increase by the end of this week given more active market.
The producer, with an annual production capacity of 60,000t, plans to produce about 4,000t in March, up by 1,000t from last month due to more inquiries. They hold no inventory currently.
A trader in Henan disclosed, "The best price for ferrosilicon 72%min 10-50mm we received today stood at RMB7,650/t (USD1,112/t) EXW D/P and most suppliers stuck to selling at RMB7,600/t (USD1,105/t) late last week". They didn't purchase today yet for no deals from the downstream and last purchased 200t at RMB7,400/t (USD1,076/t) two weeks ago. The trader holds positive attitude about the market encouraged by upcoming purchases from steel mills and believes the mainstream prices of Chinese ferrosilicon 72%min would rise within this week.
Based on the regular monthly trading volume of 600t, the trader expects to sell around 600t in March, in line with last month. They don't have stock at the moment.
A producer from Ningxia mentioned that they would like to sell ferrosilicon 72%min 10-50mm at RMB7,700/t (USD1,120/t) EXW D/P without any counteroffer today. "We didn't close any deal yet and last sold 600t RMB7,650/t (USD1,112/t) to a trader last Friday when we insisted on this price", the producer revealed, adding that they received three to four inquiries a day from early last week while they received five to six inquiries weekly before last week. They predict the mainstream prices of Chinese ferrosilicon 72%min would increase by the end of this week given more active market.
The producer, with an annual production capacity of 60,000t, plans to produce about 4,000t in March, up by 1,000t from last month due to more inquiries. They hold no inventory currently.
A trader in Henan disclosed, "The best price for ferrosilicon 72%min 10-50mm we received today stood at RMB7,650/t (USD1,112/t) EXW D/P and most suppliers stuck to selling at RMB7,600/t (USD1,105/t) late last week". They didn't purchase today yet for no deals from the downstream and last purchased 200t at RMB7,400/t (USD1,076/t) two weeks ago. The trader holds positive attitude about the market encouraged by upcoming purchases from steel mills and believes the mainstream prices of Chinese ferrosilicon 72%min would rise within this week.
Based on the regular monthly trading volume of 600t, the trader expects to sell around 600t in March, in line with last month. They don't have stock at the moment.
