Japanese ferrosilicon market sees slow import purchases
2023-03-29 08:30:36 [Print]
BEIJING (Asian Metal) 29 Mar 23 - Upon the sufficient stocks from traders and consumers, the Japanese market sees few import ferrosilicon orders this week, and the current mainstream import prices of ferrosilicon 75%min 10-50mm in Japan stand at USD1,520-1,550/t CIF Japan, unchanged from early last week. Given the slow demand, insiders predict the mainstream import prices of ferrosilicon 75%min 10-50mm in Japan would turn soft next week.
"The current offer for ferrosilicon 75%min 10-50mm from a regular Malaysian supplier stands at USD1,550/t with the discount of USD20/t at most for firm bids, and I purchased 100t at USD1,530/t this week, in line with the supplier's price early last week," revealed a trader in Japan on Tuesday. He added that he usually could purchase 300t every time from Malaysia but only 100t this time upon his sufficient stocks and the slow purchases from his clients, and his Malaysian supplier holds prices stable this week upon the stable prices in China, but he foresees the mainstream import prices of Malaysian origin ferrosilicon 75%min 10-50mm in Japan would weaken dragged by the sluggish demand in Japan.
The trader, with a regular monthly import volume of 1,000t, plans to import about 500t at most in March, down by about 500t from last month, holding around 2,000t in stock, up MoM.
Another trader in Japan disclosed that the current offer of Russian ferrosilicon 75%min 10-50mm stands at USD1,550/t CIF Japan with no discount, in line with the supplier's price early last week, and he didn't purchase yet. "The demand from steel mills decreased in March against February, and I'm not in the hurry to replenish stocks upon my sufficient stock, but I usually purchase at least once week in February, and I last purchased 300t at around USD1,600/t from Russian supplier in early March," revealed the trader on Tuesday. He added that he could access USD1,520-1,530/t CIF Japan from his regular Chinese supplier this week, in line with last week, but he predicts the mainstream import prices of Russian and Chinese ferrosilicon would turn soft next week depressed by the sluggish import demand.
Based on a regular monthly import volume of 1,500t, the trader expects to import about 500t this month, down by about 500t from last month, keeping around 3,000t in stock, up MoM.
"The current offer for ferrosilicon 75%min 10-50mm from a regular Malaysian supplier stands at USD1,550/t with the discount of USD20/t at most for firm bids, and I purchased 100t at USD1,530/t this week, in line with the supplier's price early last week," revealed a trader in Japan on Tuesday. He added that he usually could purchase 300t every time from Malaysia but only 100t this time upon his sufficient stocks and the slow purchases from his clients, and his Malaysian supplier holds prices stable this week upon the stable prices in China, but he foresees the mainstream import prices of Malaysian origin ferrosilicon 75%min 10-50mm in Japan would weaken dragged by the sluggish demand in Japan.
The trader, with a regular monthly import volume of 1,000t, plans to import about 500t at most in March, down by about 500t from last month, holding around 2,000t in stock, up MoM.
Another trader in Japan disclosed that the current offer of Russian ferrosilicon 75%min 10-50mm stands at USD1,550/t CIF Japan with no discount, in line with the supplier's price early last week, and he didn't purchase yet. "The demand from steel mills decreased in March against February, and I'm not in the hurry to replenish stocks upon my sufficient stock, but I usually purchase at least once week in February, and I last purchased 300t at around USD1,600/t from Russian supplier in early March," revealed the trader on Tuesday. He added that he could access USD1,520-1,530/t CIF Japan from his regular Chinese supplier this week, in line with last week, but he predicts the mainstream import prices of Russian and Chinese ferrosilicon would turn soft next week depressed by the sluggish import demand.
Based on a regular monthly import volume of 1,500t, the trader expects to import about 500t this month, down by about 500t from last month, keeping around 3,000t in stock, up MoM.
