Author: Site Editor Publish Time: 2024-05-31 Origin: Site
China's ferrosilicon market has started to see active trading since yesterday, with some downstream consumers starting to buy after watching the market over the past week. Currently, the mainstream price of Chinese ferrosilicon 72% min 200-500mm is CNY7,200-7,400/mt (USD994-1,021/mt) ex-works cash, up CNY100/mt (USD14/mt) from this Monday. Market participants expect prices to rise in the coming week, supported by firm offers from producers.
A Ningxia-based producer said it sold 200 tons of ferrosilicon 72% min 200-500mm to a long-time customer at CNY7,400/mt (USD1,021/mt) ex-factory cash. The producer revealed, “Yesterday I offered at CNY7,300/mt (USD1,008/mt) ex-works cash and received a few return orders of about CNY7,250/mt (USD1,001/mt), but I did not close any deals.” He thinks prices will rise further as we have run out of stock since last week. He predicts prices will rise further in the coming days.
The producer has an annual capacity of 357,000 tons and plans to produce 3.375 tons in May, almost the same as in April. He has no inventory at the moment.
A producer in Inner Mongolia revealed that she offered two consumers at CNY7,500/mt (USD1,035/mt) ex-works cash today and is in negotiations with them. She said, “I think 7,450 yuan/mt ($1,029/mt) will be my ideal trading price because demand is strong.” She explains, “My offer for the week was CNY7,200/tonne (USD994/tonne) but failed to close any deals, now we decided not to go below CNY7,400/tonne (USD1,022/tonne).” She predicted prices would rise in the following week.
The producer, which has an annual capacity of 28,800 tons, plans to produce 2,400 tons in May, almost unchanged from April. She currently has no stockpiles.
