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China's Ferrosilicon Export Market Is Depressing

Views: 0     Author: Site Editor     Publish Time: 2023-07-30      Origin: Site

Due to the high production cost, the mainstream prices of ferrosilicon 75%min and 72%min in the Chinese market are 1,040-1,070 usd/ton China offshore and 1,010-1,040 usd/ton China offshore respectively, which are unchanged from the beginning of last week, and the spot market trades are quiet. Considering the low prices of suppliers in the international market, market participants believe that the export prices of ferrosilicon from China will be eased in the coming week.

A producer in northern China said its current minimum price for ferrosilicon 75 percent min is $1,050 a ton offshore China, stable from the bottom line price at the start of last week, a level at which no deals were done this week. "Earlier this week by a Japanese traders I give a 300 - ton of bidding price is $1060 / ton cif, because Malaysia ferrosilicon price is $1010 / ton Japan landed, I was not able to bid," the trader said Monday, saying his last clinch a deal is sold for $1060 / ton Japan landed in early November, 300 tons, inclusive of delivery charges, of about $10 / ton. Due to the arrival of the centralized bidding season for Chinese steel mills, all of his suppliers stuck to the 5,700 yuan/ton ex-factory cash price this week, so he could not reduce the price this week. Given lower prices for ferrosilicon in the Asian markets of Russia and Malaysia, he believes that in the coming week, due to fewer inquiries, prices for ferrosilicon in China will fall by 75%min.

The company's regular monthly trade volume of silicon iron is 500 tons, and its November sales volume is about 500 tons. It is expected to drop to 300 tons in December due to fewer inquiries, and there is no inventory at present. They traded about 25,000 tons in 2018 and sold only about 5,000 tons in january-november 2019.

A similar sentiment was echoed by another trader in northern China, whose lowest offer for ferrosilicon 72%min is now $1,020 / ton offshore China, steady from the start of last week and without a deal this week. "A customer in Taiwan, China, today offered us $1,000 / ton to purchase 60 tons of ferrosilicon 72%min cif taichung because the price in the mainland market is firm and I cannot accept any counteroffer this week," the trader said on Monday, adding that he last sold 120 tons of ferrosilicon 72%min at us $1,030 / ton cif Vietnam for about us $10 / ton. This week most of his Chinese suppliers stuck to a price of 5,500 yuan per tonne of ex-factory cash, as bidding season for Chinese steel mills began. He pointed out that since the price of ferrosilicon in Malaysia is $20-30 / ton lower than that of ferrosilicon in China, he believes that the price of ferrosilicon in China will ease at 72%min in the coming week. The trader's monthly regular trade volume of ferrosilicon is 200 tons, and its sales volume in November is about 200 tons, which is expected to be reduced to 150 tons in December due to the decline in demand. There is no inventory at present.

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