Import prices of high-grade silicon metal in South Korea to stabilize
2023-04-13 08:09:36 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Dragged by the softening prices in China, the current mainstream import prices of high-grade silicon metal 3-3-03 in South Korea moved down by USD30/t to USD2,350-2,450/t CIF South Korea from late last week. Given the stabilizing prices in China, insiders foresee the mainstream of silicon metal 3-3-03 in South Korea would go flat this week.
A trader in South Korea disclosed that he bought 40t of silicon metal 3-3-03 at USD2,350/t CIF South Korea on Wednesday from a regular supplier who insisted on USD2,380/t last Friday. "As prices in China dropped by around RMB200/t (USD29/t) this week against last week, all of my three regular suppliers could give the discount of USD30/t to boost deals," revealed the trader on Wednesday. He added that almost all of suppliers prefer to hold prices firm upon the high production, and he foresees the mainstream import prices of silicon metal 3-3-03 in South Korea would go flat this week.
Based on a regular monthly trading volume of 200t of silicon metal, the trader expects to sell around 100t in April, down by about 100t from last month due to the shrinking demand in South Korea, holding no stocks now.
Another trader in South Korea revealed that the current offer for silicon metal 3-3-03 from a regular Chinese supplier stands at USD2,400/t CIF South Korea with the discount of USD30/t at most for firm bids, and he purchased 20t at USD2,370/t on Wednesday, down by USD30/t from the supplier's price late last week. "My major supplier marked prices by USD30/t this week to enhance orders upon the softening prices in China, but most Chinese producers turned to hold price firm now as they frustrated with the straightly dropped price in the past weeks but high production cost," revealed the trader on Wednesday. Given the firm offers from Chinese suppliers, he predicts the mainstream import prices of silicon metal 3-3-03 in South Korea would go flat this week.
With a regular monthly trading volume of 150t of silicon metal, the trader predicts to sell around 80t this month, down by around 70t from last month, barely keeping stocks now.
A trader in South Korea disclosed that he bought 40t of silicon metal 3-3-03 at USD2,350/t CIF South Korea on Wednesday from a regular supplier who insisted on USD2,380/t last Friday. "As prices in China dropped by around RMB200/t (USD29/t) this week against last week, all of my three regular suppliers could give the discount of USD30/t to boost deals," revealed the trader on Wednesday. He added that almost all of suppliers prefer to hold prices firm upon the high production, and he foresees the mainstream import prices of silicon metal 3-3-03 in South Korea would go flat this week.
Based on a regular monthly trading volume of 200t of silicon metal, the trader expects to sell around 100t in April, down by about 100t from last month due to the shrinking demand in South Korea, holding no stocks now.
Another trader in South Korea revealed that the current offer for silicon metal 3-3-03 from a regular Chinese supplier stands at USD2,400/t CIF South Korea with the discount of USD30/t at most for firm bids, and he purchased 20t at USD2,370/t on Wednesday, down by USD30/t from the supplier's price late last week. "My major supplier marked prices by USD30/t this week to enhance orders upon the softening prices in China, but most Chinese producers turned to hold price firm now as they frustrated with the straightly dropped price in the past weeks but high production cost," revealed the trader on Wednesday. Given the firm offers from Chinese suppliers, he predicts the mainstream import prices of silicon metal 3-3-03 in South Korea would go flat this week.
With a regular monthly trading volume of 150t of silicon metal, the trader predicts to sell around 80t this month, down by around 70t from last month, barely keeping stocks now.
