Chinese S.G. cast iron buyers inactive in placing orders
2023-04-26 08:25:28 [Print]
BEIJING (Asian Metal) 26 Apr 23 - As prices kept going down, Chinese S.G. cast iron buyers remained cautious in placing orders this week. The current 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 RMB3,480/t (USD504/t) and RMB3,500/t (USD507/t) EXW D/P in Hebei and Shanxi respectively, both down by around RMB20/t (USD3/t) from late last week. Upon falling prices of raw materials and weak demand from downstream industries, insiders predict S.G. cast iron prices would fall further in the coming week.
A consumer in Shandong stated that he only has an inventory of nearly 150t at present, lower than the regular level of 300t, while he did not want to restock as prices continued on the decline. He got an offer of RMB3,500/t (USD507/t) EXW D/P for S.G. cast iron Q10 from a supplier in Hebei this Tuesday and he could buy at RMB3,480/t (USD504/t) if the has orders. "I could buy 100t at RMB3,500/t (USD507/t) late last week," he said, adding that raw materials' prices continued to fall and S.G. cast iron prices might decline by nearly RMB20/t (USD3/t) in following days of this week.
Owning an annual consumption capacity of 10,000t for S.G. cast iron, the company used nearly 8,000t of the material in 2022 and almost 700t in Q1 of this year. Its consumption amount is estimated to reach about 300t in April, down from 400t in March.
A consumer in Linfen, Shanxi revealed that he preferred to watch the market as prices continued on the decline and totally decreased by nearly RMB300/t (USD43/t) since the beginning of March. He got an offer of RMB3,520/t (USD509/t) EXW D/P for S.G. cast iron Q10 this Tuesday and his supplier could accept bids no less than RMB3,500/t (USD506/t). "My supplier could accept bids no less than RMB3,520/t (USD509/t) last weekend," he reported, adding that he has an inventory of nearly 150t, lower than the regular level of 350t. Seeing falling prices of raw materials, he deems that S.G. cast iron prices would edge down by around RMB20/t (USD3/t) in following days of this week.
The company, with an annual consumption capacity of 6,000t for S.G. cast iron, used roughly 5,000t of the material in 2022. It used almost 1,400t of the material in the Q1 of this year and estimated the consumption amount would reach 350t in April, down from 400t in March.
A consumer in Shandong stated that he only has an inventory of nearly 150t at present, lower than the regular level of 300t, while he did not want to restock as prices continued on the decline. He got an offer of RMB3,500/t (USD507/t) EXW D/P for S.G. cast iron Q10 from a supplier in Hebei this Tuesday and he could buy at RMB3,480/t (USD504/t) if the has orders. "I could buy 100t at RMB3,500/t (USD507/t) late last week," he said, adding that raw materials' prices continued to fall and S.G. cast iron prices might decline by nearly RMB20/t (USD3/t) in following days of this week.
Owning an annual consumption capacity of 10,000t for S.G. cast iron, the company used nearly 8,000t of the material in 2022 and almost 700t in Q1 of this year. Its consumption amount is estimated to reach about 300t in April, down from 400t in March.
A consumer in Linfen, Shanxi revealed that he preferred to watch the market as prices continued on the decline and totally decreased by nearly RMB300/t (USD43/t) since the beginning of March. He got an offer of RMB3,520/t (USD509/t) EXW D/P for S.G. cast iron Q10 this Tuesday and his supplier could accept bids no less than RMB3,500/t (USD506/t). "My supplier could accept bids no less than RMB3,520/t (USD509/t) last weekend," he reported, adding that he has an inventory of nearly 150t, lower than the regular level of 350t. Seeing falling prices of raw materials, he deems that S.G. cast iron prices would edge down by around RMB20/t (USD3/t) in following days of this week.
The company, with an annual consumption capacity of 6,000t for S.G. cast iron, used roughly 5,000t of the material in 2022. It used almost 1,400t of the material in the Q1 of this year and estimated the consumption amount would reach 350t in April, down from 400t in March.
