Chinese ferrosilicon 75%min prices firm
2023-03-29 08:32:57 [Print]
BEIJING (Asian Metal) 29 Mar 23 - In spite of weak demand from the downstream, most suppliers held their prices unchanged given more active market and reducing supply. Therefore, the mainstream prices of Chinese ferrosilicon 75%min 200-500mm stand at RMB7,900-8,100/t (USD1,147-1,176/t) EXW D/P at present, unchanged from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 75%min would keep steady by the end of this week.
A consumer from Ningxia mentioned that the best quotation for ferrosilicon 75%min 200-500mm they received today stood at RMB8,100/t (USD1,176/t) Delivered D/A180days with a freight of around RMB100t/t (USD15/t) and most suppliers insisted on such price from yesterday. "We didn't purchase today since we suspended consumption from early last week and last purchased 100t at RMB7,900/t (USD1,147/t) EXW D/P two weeks ago", noted the consumer, adding that they would resume normal consumption early next week. They believe that the mainstream prices of Chinese ferrosilicon 75%min would remain stable within this week due to firm prices from most suppliers given weak demand from the downstream and reducing supply.
The consumer, with an annual consumption capacity of 7,500t, expects to consume about 300t in March, down by 300t from the previous month for weak demand from the downstream before mid of this month. They don't have any inventory at the moment.
A producer from Shaanxi disclosed, "Our current offer for ferrosilicon 75%min 200-500mm stands at RMB8,100/t (USD1,176/t) EXW D/P and we wouldn't consider any price lower than RMB8,000/t (USD1,162/t)". They sold 300t at RMB8,000/t (USD1,162/t) today and sold 500t at such price yesterday when they insisted on this price. The producer predicts that the mainstream prices of Chinese ferrosilicon 75%min would keep stable by the end of this week due to reduced supply.
Based on the production capacity of 85,000t, the producer plans to produce around 2,000t in March, down by 1,000t from last month for weak demand early this month. They hold no stock currently.
A consumer from Ningxia mentioned that the best quotation for ferrosilicon 75%min 200-500mm they received today stood at RMB8,100/t (USD1,176/t) Delivered D/A180days with a freight of around RMB100t/t (USD15/t) and most suppliers insisted on such price from yesterday. "We didn't purchase today since we suspended consumption from early last week and last purchased 100t at RMB7,900/t (USD1,147/t) EXW D/P two weeks ago", noted the consumer, adding that they would resume normal consumption early next week. They believe that the mainstream prices of Chinese ferrosilicon 75%min would remain stable within this week due to firm prices from most suppliers given weak demand from the downstream and reducing supply.
The consumer, with an annual consumption capacity of 7,500t, expects to consume about 300t in March, down by 300t from the previous month for weak demand from the downstream before mid of this month. They don't have any inventory at the moment.
A producer from Shaanxi disclosed, "Our current offer for ferrosilicon 75%min 200-500mm stands at RMB8,100/t (USD1,176/t) EXW D/P and we wouldn't consider any price lower than RMB8,000/t (USD1,162/t)". They sold 300t at RMB8,000/t (USD1,162/t) today and sold 500t at such price yesterday when they insisted on this price. The producer predicts that the mainstream prices of Chinese ferrosilicon 75%min would keep stable by the end of this week due to reduced supply.
Based on the production capacity of 85,000t, the producer plans to produce around 2,000t in March, down by 1,000t from last month for weak demand early this month. They hold no stock currently.
