Chinese ferrosilicon 72%min prices flat
2023-04-14 08:33:42 [Print]
BEIJING (Asian Metal) 14 Apr 23 - In spite of weak demand from the downstream, most producers held their prices unchanged today supported by high raw material prices. Therefore, the current mainstream prices of Chinese ferrosilicon 72%min 10-50mm stood at RMB7,500-7,700/t (USD1,091-1,120/t) EXW D/P, unchanged from yesterday. Insiders hold the view that the mainstream prices of Chinese ferrosilicon 72%min would slip in the coming week due to weak demand from the downstream.
A producer from Qinghai mentioned that they would like to sell ferrosilicon 72%min 10-20mm at RMB7,500/t (USD1,091/t) without any counteroffer from yesterday. "We didn't close any deal today and last sold 300t at RMB7,500/t (USD1,091/t) early this week", noted the producer, adding that they could arrange shipment within a day when clients placed orders from early late week while they arranged shipment over three days later before early last week. They believe the mainstream prices of Chinese ferrosilicon 72%min would decrease in the following week dragged by weak demand from the downstream.
The producer, with an annual production capacity of 135,000t for ferrosilicon 72%min and ferrosilicon 75%min, plans to produce about 6,000t in April with three of five furnaces under operation, down by 2,000t from last month for weak demand. They hold nearly 200t in stock currently and produced around 30,000t from January to Month this year.
Another producer from Ningxia disclosed, "Our current offer for ferrosilicon 72%min 10-50mm stand at RMB7,550/t (USD1,098/t) EXW D/P and we insisted on such price from yesterday". They didn't close any deal today and sold around 500t at RMB7,600/t (USD1,105/t) late last week. The producer further revealed that they only closed three deals from last week while they closed three to four deals weekly in March. They predict that the mainstream prices of Chinese ferrosilicon 72%min would edge down in the coming week for limited deals.
Based on the production capacity of 60,000t, the producer expects to produce around 4,000t in April, on par with the last month. They don't have any inventory at the moment and they produced approximately 10,000t in Q1 2023.
A producer from Qinghai mentioned that they would like to sell ferrosilicon 72%min 10-20mm at RMB7,500/t (USD1,091/t) without any counteroffer from yesterday. "We didn't close any deal today and last sold 300t at RMB7,500/t (USD1,091/t) early this week", noted the producer, adding that they could arrange shipment within a day when clients placed orders from early late week while they arranged shipment over three days later before early last week. They believe the mainstream prices of Chinese ferrosilicon 72%min would decrease in the following week dragged by weak demand from the downstream.
The producer, with an annual production capacity of 135,000t for ferrosilicon 72%min and ferrosilicon 75%min, plans to produce about 6,000t in April with three of five furnaces under operation, down by 2,000t from last month for weak demand. They hold nearly 200t in stock currently and produced around 30,000t from January to Month this year.
Another producer from Ningxia disclosed, "Our current offer for ferrosilicon 72%min 10-50mm stand at RMB7,550/t (USD1,098/t) EXW D/P and we insisted on such price from yesterday". They didn't close any deal today and sold around 500t at RMB7,600/t (USD1,105/t) late last week. The producer further revealed that they only closed three deals from last week while they closed three to four deals weekly in March. They predict that the mainstream prices of Chinese ferrosilicon 72%min would edge down in the coming week for limited deals.
Based on the production capacity of 60,000t, the producer expects to produce around 4,000t in April, on par with the last month. They don't have any inventory at the moment and they produced approximately 10,000t in Q1 2023.
