Chinese ferrosilicon 72%min export market sees rare deals
2023-03-30 08:28:42 [Print]
BEIJING (Asian Metal) 30 Mar 23 - As most overseas clients remained inactive in placing orders, Chinese ferrosilicon 72%min export market witnessed rare deals from early this week.
However, the current mainstream export prices of Chinese ferrosilicon 72%min 10-50mm, supported by firm domestic prices, stand unchanged from early this week at USD1,490-1,520/t FOB China and USD1,440-1,470/t Ex-VAT FOB China and would keep steady in the rest days of the week.
A trader in Ningxia disclosed, "We didn't close any deal in the past two weeks and last sold 20t at USD1,470/t two week ago". Their best price for ferrosilicon 75%min 200-500mm stood at USD1,490/t FOB China today and they insisted on such price from early this week. The trader further revealed that they received three to four inquiries weekly from last week while they received one to two inquiries weekly before last week. They hold the view that the mainstream export prices of Chinese ferrosilicon 75%min would stay unchanged within this week given more inquiries but limited firm bids.
Based on the typical export volume of 2,000t, the trader predicts to export around 100t in March, down by 900t from the previous month for weak demand from the overseas. They hold no sock at the moment.
Another trader from Henan mentioned that they didn't close any deal this week and last sold 300t at USD1,450/t Ex-VAT FOB China early last week. "We only closed two deals from last week while we closed three to four deals weekly in the first half of March", noted the trader. They stuck to exporting ferrosilicon 72%min at USD1,450/t from early this week and hold the view that the mainstream export prices of Chinese ferrosilicon 72%min would remain flat by the end of this week for stable domestic prices.
The trader, with the regular monthly export volume of 2,000t both ferrosilicon 72%min and 75%min, expects to export about 1,000t in March, in line with last month. They don't have any inventory currently.
However, the current mainstream export prices of Chinese ferrosilicon 72%min 10-50mm, supported by firm domestic prices, stand unchanged from early this week at USD1,490-1,520/t FOB China and USD1,440-1,470/t Ex-VAT FOB China and would keep steady in the rest days of the week.
A trader in Ningxia disclosed, "We didn't close any deal in the past two weeks and last sold 20t at USD1,470/t two week ago". Their best price for ferrosilicon 75%min 200-500mm stood at USD1,490/t FOB China today and they insisted on such price from early this week. The trader further revealed that they received three to four inquiries weekly from last week while they received one to two inquiries weekly before last week. They hold the view that the mainstream export prices of Chinese ferrosilicon 75%min would stay unchanged within this week given more inquiries but limited firm bids.
Based on the typical export volume of 2,000t, the trader predicts to export around 100t in March, down by 900t from the previous month for weak demand from the overseas. They hold no sock at the moment.
Another trader from Henan mentioned that they didn't close any deal this week and last sold 300t at USD1,450/t Ex-VAT FOB China early last week. "We only closed two deals from last week while we closed three to four deals weekly in the first half of March", noted the trader. They stuck to exporting ferrosilicon 72%min at USD1,450/t from early this week and hold the view that the mainstream export prices of Chinese ferrosilicon 72%min would remain flat by the end of this week for stable domestic prices.
The trader, with the regular monthly export volume of 2,000t both ferrosilicon 72%min and 75%min, expects to export about 1,000t in March, in line with last month. They don't have any inventory currently.
