Import amount of Chinese ferrosilicon in South Korea decreases
2023-04-10 08:44:59 [Print]
BEIJING (Asian Metal) 10 Apr 23 - Supported by the stable prices in China, the current mainstream import prices of ferrosilicon 75%min 10-50mm in South Korea stand at USD1,510-1,550/t CIF Busan, unchanged from early last week. However, the import prices of Russian ferrosilicon 75%min 10-50mm in South Korea turned lower than Chinese prices, consequently, the import amount of Chinese ferrosilicon decreased aggressively this week, and insiders predict the import prices of ferrosilicon 75%min 10-50mm in South Korea would go down dragged by the shrinking import volume next week.
A trader in South Korea revealed that the current offer for ferrosilicon 75%min 10-50mm from a regular Chinese supplier stand at USD1,530/t CIF Busan with the discount of USD10/t at most supported by the stable prices in China, in line with the supplier's price early last week, and he finally purchased 200t at USD1,470/t from a Russian supplier last Friday with the shipment in May. "I usually purchase 500t every month from China, but I only purchased 100t from China in March due to the higher import cost," revealed the trader last Friday. He predicts the mainstream import prices of Chinese ferrosilicon 75%min would be driven down in South Korea next week upon the cut import orders of Chinese ferrosilicon.
The trader, with a regular monthly import volume of 500t, plans to import about 500t at most in April, almost unchanged from last month, holding no stocks.
Another trader in South Korea disclosed that the current offer for ferrosilicon 75%min 10-50mm hits USD1,515/t CIF Busan with no discount from a regular Chinese supplier who insisted on the same price early last week supported by the stable prices in China, but he couldn't win tenders with such import prices after he last bought 200t at USD1,550/t in the middle of March. He only imported around 200t of Chinese ferrosilicon 75%min in March but usually at least 1,000t a month. "POSCO purchased some amount at the price lower than USD1,500/t from a Russian supplier two weeks ago, and I got the offer from a Russian supplier at around USD1,450/t for the purchase amount of 500t and USD1,500/t for 100t," revealed the trader last Friday. As the purchase from China in South Korea decreased, he predicts the mainstream import prices of Chinese ferrosilicon 75%min 10-50mm in South Korea would go down dragged by the shrinking demand.
The trader, with a regular monthly import volume of 1,500t, foresees to import about 500t in April, in line with last month, keeping no stocks.
A trader in South Korea revealed that the current offer for ferrosilicon 75%min 10-50mm from a regular Chinese supplier stand at USD1,530/t CIF Busan with the discount of USD10/t at most supported by the stable prices in China, in line with the supplier's price early last week, and he finally purchased 200t at USD1,470/t from a Russian supplier last Friday with the shipment in May. "I usually purchase 500t every month from China, but I only purchased 100t from China in March due to the higher import cost," revealed the trader last Friday. He predicts the mainstream import prices of Chinese ferrosilicon 75%min would be driven down in South Korea next week upon the cut import orders of Chinese ferrosilicon.
The trader, with a regular monthly import volume of 500t, plans to import about 500t at most in April, almost unchanged from last month, holding no stocks.
Another trader in South Korea disclosed that the current offer for ferrosilicon 75%min 10-50mm hits USD1,515/t CIF Busan with no discount from a regular Chinese supplier who insisted on the same price early last week supported by the stable prices in China, but he couldn't win tenders with such import prices after he last bought 200t at USD1,550/t in the middle of March. He only imported around 200t of Chinese ferrosilicon 75%min in March but usually at least 1,000t a month. "POSCO purchased some amount at the price lower than USD1,500/t from a Russian supplier two weeks ago, and I got the offer from a Russian supplier at around USD1,450/t for the purchase amount of 500t and USD1,500/t for 100t," revealed the trader last Friday. As the purchase from China in South Korea decreased, he predicts the mainstream import prices of Chinese ferrosilicon 75%min 10-50mm in South Korea would go down dragged by the shrinking demand.
The trader, with a regular monthly import volume of 1,500t, foresees to import about 500t in April, in line with last month, keeping no stocks.
