Chinese ferrosilicon 72%min market sees rare deals
2023-04-10 08:24:13 [Print]
BEIJING (Asian Metal) 10 Apr 23 - As most clients remained inactive in placing orders, Chinese ferrosilicon 72%min export market witnessed rare deals from early this week. Although most suppliers tried to hold their prices unchanged due to high raw material prices today, insiders predict that the mainstream prices of Chinese ferrosilicon 72%min would weaken in the coming week. The mainstream export prices of Chinese ferrosilicon 72%min 10-50mm stand flat at RMB7,500-7,700/t (USD1,091-1,120/t) EXW D/P at present, unchanged from early this week.
A producer from Ningxia mentioned that they didn't close any deal this week and last sold 500t of ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,105/t) EXW D/P early last week. "We closed three to four deals weekly in the second half of March and we believe the mainstream prices of Chinese ferrosilicon prices of 72%min would soften in the following week due to limited deals", noted the producer. They insisted on selling ferrosilicon 72%min at RMB7,550/t (USD1,098/t) without any counteroffer from early this week.
The producer, with an annual production capacity of 90,000 t, plans to produce about 5,400t in April, in line with the previous month. They don't have any inventory currently.
A trader from Henan disclosed, "We didn't purchase from late last week for no deals from the downstream and last purchased 30t of ferrosilicon 72%min 10-50mm at RMB7,500/t (USD1,091/t) EXW D/P". The trader further revealed that they purchased two to three times a week with around 50t in a single order in the first 20 days in March. The best price of ferrosilicon 72%min they received from early this month stood at RMB7,500/t (USD1,091/t). The trader holds the view that the mainstream prices of Chinese ferrosilicon 72%min would weaken in the coming week dragged by scarce deals.
Based on the regular monthly trading volume of 500t, the trader expects to sell around 400t in Apr, on par with last month. They hold no stock at the moment.
A producer from Ningxia mentioned that they didn't close any deal this week and last sold 500t of ferrosilicon 72%min 10-50mm at RMB7,600/t (USD1,105/t) EXW D/P early last week. "We closed three to four deals weekly in the second half of March and we believe the mainstream prices of Chinese ferrosilicon prices of 72%min would soften in the following week due to limited deals", noted the producer. They insisted on selling ferrosilicon 72%min at RMB7,550/t (USD1,098/t) without any counteroffer from early this week.
The producer, with an annual production capacity of 90,000 t, plans to produce about 5,400t in April, in line with the previous month. They don't have any inventory currently.
A trader from Henan disclosed, "We didn't purchase from late last week for no deals from the downstream and last purchased 30t of ferrosilicon 72%min 10-50mm at RMB7,500/t (USD1,091/t) EXW D/P". The trader further revealed that they purchased two to three times a week with around 50t in a single order in the first 20 days in March. The best price of ferrosilicon 72%min they received from early this month stood at RMB7,500/t (USD1,091/t). The trader holds the view that the mainstream prices of Chinese ferrosilicon 72%min would weaken in the coming week dragged by scarce deals.
Based on the regular monthly trading volume of 500t, the trader expects to sell around 400t in Apr, on par with last month. They hold no stock at the moment.
