Chinese S.G. cast iron prices decline
2023-04-12 07:46:24 [Print]
BEIJING (Asian Metal) 12 Apr 23 - Due to weak demand from foundries and falling prices of raw materials, Chinese S.G. cast iron prices decreased this week. Currently prices of S.G. cast iron Q10 Si 0.5-1.4%min, Mn 0.2%max, P 0.05%max, S 0.02%max stand at RMB3,450/t (USD501/t) and RMB3,600/t (USD523/t) EXW D/P in Shanxi and Hebei respectively, both down by around RMB40/t (USD6/t) from late last week. Considering slow market performance, insiders predict S.G. cast iron prices would edge down further in the coming week.
A consumer in Shandong reported that he got an offer of RMB3,460/t (USD503/t) EXW D/P for S.G. cast iron Q10 from a producer in Xinzhou, Shanxi this Tuesday, and the producer could accept a concession of RMB10/t (USD1.5/t) at most for orders. "The producers refused bids higher than RMB3,500/t (USD508/t) late last week," he said, adding that he last purchased around 700t at RMB3,540/t (USD514/t) in the middle of March. He only has an inventory of 100t at present, while his regular inventory used to hover at 300t or so. As prices remained on the decline, he preferred to wait and predicts S.G. cast iron prices would fall by around RMB20/t (USD3/t) in following days of this week.
The company owns an annual consumption capacity of 10,000t and consumed around 8,000t of S.G. cast iron in 2022. Its consumption amount reached about 700t in Q1 of this year. It estimated the consumption volume would hover at 300t or so in April, down from 400t in March.
A consumer in Anhui revealed that his supplier quoted RMB3,620/t (USD526/t) EXW D/P for S.G. cast iron Q10 this Tuesday and could provide a discount of no more than RMB20/t (USD3/t) for regular clients. "I did not have plan to buy this week as prices continued on the decline," he said, adding that according to his experience, he could buy around 33t of the material at RMB3,650/t (USD530/t) late last week. His consumption amount for S.G. cast iron stands around 100tpm at present, down by 30% YoY. Given limited demand from foundries, he is of the opinion that S.G. cast iron prices would go down further in the coming week.
Reporting an annual consumption capacity of 3,000t for S.G. cast iron, the company consumed almost 2,200t and 400t of the material respectively in 2022 and in Q1 of this year. It holds an inventory of roughly 30t at present, down by 50t from two weeks ago.
A consumer in Shandong reported that he got an offer of RMB3,460/t (USD503/t) EXW D/P for S.G. cast iron Q10 from a producer in Xinzhou, Shanxi this Tuesday, and the producer could accept a concession of RMB10/t (USD1.5/t) at most for orders. "The producers refused bids higher than RMB3,500/t (USD508/t) late last week," he said, adding that he last purchased around 700t at RMB3,540/t (USD514/t) in the middle of March. He only has an inventory of 100t at present, while his regular inventory used to hover at 300t or so. As prices remained on the decline, he preferred to wait and predicts S.G. cast iron prices would fall by around RMB20/t (USD3/t) in following days of this week.
The company owns an annual consumption capacity of 10,000t and consumed around 8,000t of S.G. cast iron in 2022. Its consumption amount reached about 700t in Q1 of this year. It estimated the consumption volume would hover at 300t or so in April, down from 400t in March.
A consumer in Anhui revealed that his supplier quoted RMB3,620/t (USD526/t) EXW D/P for S.G. cast iron Q10 this Tuesday and could provide a discount of no more than RMB20/t (USD3/t) for regular clients. "I did not have plan to buy this week as prices continued on the decline," he said, adding that according to his experience, he could buy around 33t of the material at RMB3,650/t (USD530/t) late last week. His consumption amount for S.G. cast iron stands around 100tpm at present, down by 30% YoY. Given limited demand from foundries, he is of the opinion that S.G. cast iron prices would go down further in the coming week.
Reporting an annual consumption capacity of 3,000t for S.G. cast iron, the company consumed almost 2,200t and 400t of the material respectively in 2022 and in Q1 of this year. It holds an inventory of roughly 30t at present, down by 50t from two weeks ago.
