Ferrosilicon prices in the US slip
2023-04-07 10:09:14 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Discouraged by the oversupply, the current mainstream prices of ferrosilicon 75%min 10-50mm in the US edged down by USD0.03/lb Si to USD1.22-1.27/lb Si in warehouse Pittsburgh T/T 30 days from early last week. Given the slow demand, insiders predict the mainstream prices of ferrosilicon 75%min 10-50mm in the US would slip further next week.
A trader in the US disclosed that it's hard for him to close deals with his offer of USD1.30/lb Si D.D.P for ferrosilicon 75%min Al 0.1%max covered the logistic of around USD0.03/lb Si this week, and he marked prices down to USD1.27/lb Si D.D.P but he still didn't close any deals this week, while he insisted on USD1.30/lb Si early last week. "I last sold 200t at USD1.35/lb Si two weeks ago, and the supply from Norway and Vietnam increased in the US in 2023, and I marked prices down this week as my import cost hits USD1.18/lb Si after customs clearance," revealed the trader on Thursday. He predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further next week upon the oversupply and sluggish demand.
With a regular monthly trading volume for ferrosilicon around 500t in the spot market, the trader predicts to sell around 300t in April, almost unchanged from last month, holding around 500t in stock.
Another trader in the US revealed that his current offer for ferrosilicon 75%min 10-50mm stands at USD1.30/lb Si D.D.P covered the transport of about USD0.03/lb Si, and he could give the discount of USD0.05/lb Si at most for firm bids and he sold 100t at the price this week, down by USD0.05/lb Si from his price early last week. "Most clients keep consuming their stocks now and decreased purchases amount, additionally the supply from Brazil and Asia increased in the US, and the Brazilian prices hit USD1,900/t Baltimore which means around USD1.16/lb Si, and I predict the mainstream prices of ferrosilicon 75%min 10-50mm in the US would drop further next week," revealed the trader on Thursday.
The trader, based on a regular monthly trading volume for ferrosilicon around 300t in the spot market, foresees to sell around 200t in April, in line with last month, keeping around 300t in stock.
A trader in the US disclosed that it's hard for him to close deals with his offer of USD1.30/lb Si D.D.P for ferrosilicon 75%min Al 0.1%max covered the logistic of around USD0.03/lb Si this week, and he marked prices down to USD1.27/lb Si D.D.P but he still didn't close any deals this week, while he insisted on USD1.30/lb Si early last week. "I last sold 200t at USD1.35/lb Si two weeks ago, and the supply from Norway and Vietnam increased in the US in 2023, and I marked prices down this week as my import cost hits USD1.18/lb Si after customs clearance," revealed the trader on Thursday. He predicts the mainstream prices of ferrosilicon 75%min 10-50mm in the US would move down further next week upon the oversupply and sluggish demand.
With a regular monthly trading volume for ferrosilicon around 500t in the spot market, the trader predicts to sell around 300t in April, almost unchanged from last month, holding around 500t in stock.
Another trader in the US revealed that his current offer for ferrosilicon 75%min 10-50mm stands at USD1.30/lb Si D.D.P covered the transport of about USD0.03/lb Si, and he could give the discount of USD0.05/lb Si at most for firm bids and he sold 100t at the price this week, down by USD0.05/lb Si from his price early last week. "Most clients keep consuming their stocks now and decreased purchases amount, additionally the supply from Brazil and Asia increased in the US, and the Brazilian prices hit USD1,900/t Baltimore which means around USD1.16/lb Si, and I predict the mainstream prices of ferrosilicon 75%min 10-50mm in the US would drop further next week," revealed the trader on Thursday.
The trader, based on a regular monthly trading volume for ferrosilicon around 300t in the spot market, foresees to sell around 200t in April, in line with last month, keeping around 300t in stock.
