China silicon metal export market keeps quiet

BEIJING (Asian Metal) 21 Oct 09 - The export market of silicon metal in China is still quiet with no signs to move in the near future, though silicon metal price keeps going up dramatically. Chinese exporters reported that they have raised their export prices following the increase in the domestic market, but it doesn't make any sense as there are no deals.

Sources reported that smelters further raise 5-5-3 price to RMB9,800-9,850/t in ports this week, up from RMB9,650-9,700/t (USD1,419-1,426/t) in ports last week. Meanwhile, the price of 4-4-1 was lifted up to RMB10,600/t (USD1,559/t) from RMB10,200/t (USD1,500/t) in ports over the past two weeks. But exporters claimed that the export prices of 5-5-3 and 4-4-1 stay at around USD1,720/t and USD1,780/t FOB CMP this week, same as that at the end of September.

A trader in South China with a normal exporting volume of around 3,000-4,000tpm told Asian Metal that he has raised the export price of 4-4-1 to USD1,860-1,870/t FOB Huangpu, but no deal has been done since ten days ago, when he raised the price to USD1,780/t from USD1,750/t FOB Huangpu. "We have to raise the export price," said the source.Asian Metal Copyright Meanwhile, the price of 4-4-1 was lifted up to RMB10,600t USD1,559t from RMB10,200t USD1,500t in ports over the past two weeks.Asian Metal Copyright "But we haven't received new orders in the spot market for a long time."

The source confirmed that silicon metal price has raised dramatically in the domestic market, and received the offers at RMB10,200/t (USD1,500/t), RMB10,600/t (USD1,559/t) and RMB11,000/t (USD1,618/t) in ports for 5-5-3, 4-4-1 and 3-3-0-3 respectively. "We still have some long-termed contracts, so have to find some suppliers with low offers to reduce the loss," said the source.Asian Metal Copyright".Asian Metal Copyright

Another trader in South China who mainly exports 5-5-3 of around 300tpm told Asian Metal that the export market drops back again this week, compared with that last week. "The export market is slow and the (5-5-3 export) price is in a range of USD1,720-1,730/t (FOB Huangpu)," said the source. "But it's hard to reach USD1,730/t anymore."

The source disclosed that his supplier raised the price of 5-5-3 to RMB9,700/t (USD1,426/t) from RMB9,600/t (USD1,412/t) Huangpu last week, but the export market keeps slow with the export price staying at around USD1,720/t FOB Huangpu. "We exported a batch of 5-5-3 at USD1,730/t FOB Huangpu last week," said the source.Asian Metal Copyright "We still have some long-termed contracts, so have to find some suppliers with low offers to reduce the loss," said the source.Asian Metal Copyright "But the market becomes quiet again this week."