Chinese silicon metal export prices rebound
2023-04-17 08:34:01 [Print]
BEIJING (Asian Metal) 17 Apr 23 - Supported by the stabilizing prices in China and sharply appreciating RMB against USD, the current mainstream export prices of silicon metal 4-4-1 edged up by USD20/t to USD2,300-2,400/t Ex-VAT FOB China from the middle of last week. Given the remaining sufficient supply and sluggish overseas demand, insiders predict the mainstream export prices of Chinese silicon metal 4-4-1 would turn soft next week.
A trader in Fujian revealed that currently he couldn't accept any prices lower than USD2,300/t FOB China for silicon metal 4-4-1 as RMB appreciated sharply last Friday, while he last sold 20t at USD2,300/t CIF Kaohsiung last Wednesday covered the freight of USD20/t. "The price of silicon metal 4-4-1 stabilized at RMB16,000/t (USD2,338/t) delivered to Huangpu against the mid-last week," revealed the trader last Friday. He added that the overseas demand remains sluggish as most clients hang up purchases upon the sufficient supply in China, and he foresees the mainstream export prices of silicon metal 4-4-1 would turn soft next week.
With a regular monthly trading volume for silicon metal around 500t, the trader predicts to sell around 300t in April, down by 100t from last month, holding no stocks.
A buyer in South Korea revealed that he bought 40t of silicon metal 4-4-1 at USD2,320/t CIF Incheon from last Friday a Chinese supplier who could accept USD2,300/t last Wednesday. "Upon the appreciated RMB against USD, most suppliers marked up prices slightly today upon the stabilizing prices in China," revealed the buyer in last Friday. He added that the purchase from aluminum plants remains slow upon their enough stock, and he foresees the mainstream export prices of Chinese silicon metal 4-4-1 would soften dragged by the heavy stocks in China and slow demand in South Korea next week.
With a regular monthly purchase volume for silicon metal around 300t, the importer predicts to import around 150t in April, down by 100t from last month, keeping no stocks.
A trader in Fujian revealed that currently he couldn't accept any prices lower than USD2,300/t FOB China for silicon metal 4-4-1 as RMB appreciated sharply last Friday, while he last sold 20t at USD2,300/t CIF Kaohsiung last Wednesday covered the freight of USD20/t. "The price of silicon metal 4-4-1 stabilized at RMB16,000/t (USD2,338/t) delivered to Huangpu against the mid-last week," revealed the trader last Friday. He added that the overseas demand remains sluggish as most clients hang up purchases upon the sufficient supply in China, and he foresees the mainstream export prices of silicon metal 4-4-1 would turn soft next week.
With a regular monthly trading volume for silicon metal around 500t, the trader predicts to sell around 300t in April, down by 100t from last month, holding no stocks.
A buyer in South Korea revealed that he bought 40t of silicon metal 4-4-1 at USD2,320/t CIF Incheon from last Friday a Chinese supplier who could accept USD2,300/t last Wednesday. "Upon the appreciated RMB against USD, most suppliers marked up prices slightly today upon the stabilizing prices in China," revealed the buyer in last Friday. He added that the purchase from aluminum plants remains slow upon their enough stock, and he foresees the mainstream export prices of Chinese silicon metal 4-4-1 would soften dragged by the heavy stocks in China and slow demand in South Korea next week.
With a regular monthly purchase volume for silicon metal around 300t, the importer predicts to import around 150t in April, down by 100t from last month, keeping no stocks.
