Chinese ferrosilicon 72%min producers positive about the market
2023-03-29 08:32:44 [Print]
BEIJING (Asian Metal) 29 Mar 23 - Even though most producers held their prices unchanged today, they held positive attitudes about the market due to more deals and insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would move up slightly within this week. Currently the mainstream prices of Chinese ferrosilicon 72%min 10-50mm stand flat at RMB7,650-7,850/t (USD1,111-1,140/t) EXW D/P from yesterday.
A producer from Shaanxi mentioned that they held the positive attitude towards the market since they closed four deals from late last week while they hardly closed two to three deals weekly before last week. "We predict the mainstream prices of Chinese ferrosilicon 72%min would increase within this week and we would lift our price late this week", noted the producer, who didn't close any deal today and sold 100t at RMB7,750/t (USD1,126/t) yesterday when they insisted on such price. Their best price for ferrosilicon 72%min 10-50mm stood at RMB7,750/t (USD1,111/t) EXW D/P today.
The producer, with an annual production capacity of 85,000t, plans to produce about 3,000t in March with one 40,500kVA furnace under operation, in line with last month. They don't have any inventory at the moment.
Another producer from Qinghai disclosed, "We held positive attitude about the market because we closed around five deals and would arrange the shipment a week later from mid last week, while we closed one to two deals with shipment within a day before last week". The producer believes that the mainstream prices of Chinese ferrosilicon 72%min would go up within this week. They would like to sell ferrosilicon 72%min 10-50mm at RMB7,700/t (USD1,118/t) EXW D/P and they stuck to this price from yesterday. The producer didn't close any deal today and last sold 50t at RMB7,700/t (USD1,118/t) yesterday.
Based on the production capacity of 135,000tpy, the producer expects to produce around 7,000t in March, down by 1,000t from the previous month for weak demand before mid of March. They hold no stock currently.
A producer from Shaanxi mentioned that they held the positive attitude towards the market since they closed four deals from late last week while they hardly closed two to three deals weekly before last week. "We predict the mainstream prices of Chinese ferrosilicon 72%min would increase within this week and we would lift our price late this week", noted the producer, who didn't close any deal today and sold 100t at RMB7,750/t (USD1,126/t) yesterday when they insisted on such price. Their best price for ferrosilicon 72%min 10-50mm stood at RMB7,750/t (USD1,111/t) EXW D/P today.
The producer, with an annual production capacity of 85,000t, plans to produce about 3,000t in March with one 40,500kVA furnace under operation, in line with last month. They don't have any inventory at the moment.
Another producer from Qinghai disclosed, "We held positive attitude about the market because we closed around five deals and would arrange the shipment a week later from mid last week, while we closed one to two deals with shipment within a day before last week". The producer believes that the mainstream prices of Chinese ferrosilicon 72%min would go up within this week. They would like to sell ferrosilicon 72%min 10-50mm at RMB7,700/t (USD1,118/t) EXW D/P and they stuck to this price from yesterday. The producer didn't close any deal today and last sold 50t at RMB7,700/t (USD1,118/t) yesterday.
Based on the production capacity of 135,000tpy, the producer expects to produce around 7,000t in March, down by 1,000t from the previous month for weak demand before mid of March. They hold no stock currently.