Ferrosilicon prices in the US down
2023-03-31 10:26:23 [Print]
BEIJING (Asian Metal) 31 Mar 23 - Upon weak demand, the current mainstream prices of ferrosilicon 75%min 10-50mm in the US moved down by USD0.03/lb Si to USD1.27-1.32/lb Si in warehouse Pittsburgh T/T 30 days from early last week. Given the oversupply, insiders predict the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down further next week.
A trader in the US disclosed that his current offer for ferrosilicon 75%min 10-50mm stands at USD1.30/lb Si in warehouse Pittsburgh T/T 30 days with the discount of USD0.03/lb Si at most, and he sold 60t at USD1.27/lb Si this week, down by USD0.03/lb Si from his price early last week. "Most clients booked sufficient stocks last November for 2023, and the inquiry from clients shrank in March," revealed the trader on Thursday. Given the sufficient stocks and slow consumption from clients, he foresees the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further next week.
With a regular monthly trading volume for ferrosilicon around 200t in the spot market, the trader predicts to sell around 100t in March, a decrease of around 100t from last month, holding around 200t in stock.
Another trader in the US disclosed that it's very hard to close deals with his offer of USD1.30/lb Si in warehouse Pittsburgh T/T 30 days, and he could give the discount of USD0.02/lb Si for firm bids, down by USD0.02/lb Si from his price early last week, but his clients even asked USD1.20/lb Si for 100t on Thursday. "I last sold 100t at USD1.30/lb Si two weeks ago, and the market turned slow as many clients overbooked stocks last years and keep consuming stocks now," revealed the trader on Thursday. He added that more ferrosilicon originated from Norway and Vietnam come to the US now, and he foresees the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down further next week.
With a regular monthly trading volume for ferrosilicon around 300t in the spot market, the trader expects to sell around 100t in March, slightly down by about 100t from last month, holding around 300t in stock.
A trader in the US disclosed that his current offer for ferrosilicon 75%min 10-50mm stands at USD1.30/lb Si in warehouse Pittsburgh T/T 30 days with the discount of USD0.03/lb Si at most, and he sold 60t at USD1.27/lb Si this week, down by USD0.03/lb Si from his price early last week. "Most clients booked sufficient stocks last November for 2023, and the inquiry from clients shrank in March," revealed the trader on Thursday. Given the sufficient stocks and slow consumption from clients, he foresees the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further next week.
With a regular monthly trading volume for ferrosilicon around 200t in the spot market, the trader predicts to sell around 100t in March, a decrease of around 100t from last month, holding around 200t in stock.
Another trader in the US disclosed that it's very hard to close deals with his offer of USD1.30/lb Si in warehouse Pittsburgh T/T 30 days, and he could give the discount of USD0.02/lb Si for firm bids, down by USD0.02/lb Si from his price early last week, but his clients even asked USD1.20/lb Si for 100t on Thursday. "I last sold 100t at USD1.30/lb Si two weeks ago, and the market turned slow as many clients overbooked stocks last years and keep consuming stocks now," revealed the trader on Thursday. He added that more ferrosilicon originated from Norway and Vietnam come to the US now, and he foresees the mainstream prices of ferrosilicon 75%min 10-50mm in the US would go down further next week.
With a regular monthly trading volume for ferrosilicon around 300t in the spot market, the trader expects to sell around 100t in March, slightly down by about 100t from last month, holding around 300t in stock.
