Chinese silicon metal export prices drop
2023-04-03 08:33:50 [Print]
BEIJING (Asian Metal) 3 Apr 23 - Dragged by the sluggish overseas demand, some Chinese exporters narrowed profits to drive orders this week, and the current mainstream export prices of Chinese silicon metal 5-5-3 dropped by USD30/t to USD2,200-2,300/t Ex-VAT FOB China from the middle of last week. Given the firm prices in China while sluggish overseas demand, insiders predict the mainstream export prices of Chinese silicon metal 5-5-3 would keep softly stable this week.
A trader in Fujian disclosed that he sold 20t of silicon metal 5-5-3 at USD2,230/t CIF Japan last Friday, down by about USD30/t from his price last Wednesday. "I usually could close one deal at least a week but I didn't close any deals in the past two weeks, so I narrowed my profit and agreed with the buyer's bids," revealed the trader last Friday. He added that most Chinese suppliers hold prices firm while the overseas market remains inactive, and he predicts the mainstream export prices of Chinese silicon metal 5-5-3 would keep softly stable next week.
The trader, with a regular monthly trading volume of 300t of silicon metal, expects to sell around 200t at most in April, unchanged from last month, holding no stocks.
A trader in Japan revealed that the current offer for silicon metal 5-5-3 stands at USD2,250/t CIF Japan with the discount of USD30/t at most for firm bids from a regular Chinese supplier, while the supplier insisted on USD2,250/t in the middle of last week, but he didn't purchase yet. "I last bought 100t at USD2,250/t two weeks ago, and my purchase amount shrank half in March due to the fiercer competition," revealed the trader last Friday. Given the sluggish demand in Japan, he predicts the mainstream export prices of Chinese silicon metal 5-5-3 would soften next week despite the stable prices in China.
Based on a regular monthly import volume of 500t of silicon metal, the trader expects to buy around 200t in April, unchanged from last month, keeping no stocks.
A trader in Fujian disclosed that he sold 20t of silicon metal 5-5-3 at USD2,230/t CIF Japan last Friday, down by about USD30/t from his price last Wednesday. "I usually could close one deal at least a week but I didn't close any deals in the past two weeks, so I narrowed my profit and agreed with the buyer's bids," revealed the trader last Friday. He added that most Chinese suppliers hold prices firm while the overseas market remains inactive, and he predicts the mainstream export prices of Chinese silicon metal 5-5-3 would keep softly stable next week.
The trader, with a regular monthly trading volume of 300t of silicon metal, expects to sell around 200t at most in April, unchanged from last month, holding no stocks.
A trader in Japan revealed that the current offer for silicon metal 5-5-3 stands at USD2,250/t CIF Japan with the discount of USD30/t at most for firm bids from a regular Chinese supplier, while the supplier insisted on USD2,250/t in the middle of last week, but he didn't purchase yet. "I last bought 100t at USD2,250/t two weeks ago, and my purchase amount shrank half in March due to the fiercer competition," revealed the trader last Friday. Given the sluggish demand in Japan, he predicts the mainstream export prices of Chinese silicon metal 5-5-3 would soften next week despite the stable prices in China.
Based on a regular monthly import volume of 500t of silicon metal, the trader expects to buy around 200t in April, unchanged from last month, keeping no stocks.
