Silicon metal market prices edging up
2006-07-14 09:17:46 【Print】
BEIJING (Asian Metal) 14 Jul 06 -- Silicon metal market price is edging up slowly but steadily on the back of increased production cost, and market participants are selling USD1,000/t FOB for 5-5-3 and USD1,030/t FOB for 4-4-1.
Smelters begin to offer RMB7,700/t (USD962/t) for 5-5-3 and RMB8,000/t (USD1,000/t) for 4-4-1 on the basis of increasing production cost caused by the raised electricity prices all over China.
"We are busy purchasing silicon metal this week to fulfill orders contracted before," said a trader in South China. "And the price of 5-5-3 rises to around RMB7,650/t (USD956/t), and more smelters are offering RMB7,700/t (USD962/t) for it."
Meanwhile, the source revealed that some suppliers are offering RMB8,050/t (USD1,006/t) for 4-4-1.
According to market participants, not only the purchasing prices, but also the export price are increasing.
"We're offering USD1,010-1,020/t FOB for 5-5-3," said another trader. "But foreign buyers can only accept USD1,000/t FOB for it. Nevertheless, the market price is increasing."
However, the source stated that foreigners are complaining about the hiking prices. "They still stick to the price of USD990/t FOB. Of course, it will take time for them to accpet this price jump."
The source also signed some orders of 4-4-1 for USD1,030/t FOB, though for small quantity.
