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China's Ferrosilicon Market Trades Steady

Views: 687     Author: Site Editor     Publish Time: 2024-05-29      Origin: https://www.asianmetal.cn/

China's Ferrosilicon Market Trades Steady

Considering that downstream purchases are stabilizing, producers have strong willingness to hold prices due to tight inventory at present. Mainstream Chinese ferrosilicon 75%min 200-500mm prices remained at CNY7,700-7,900/mt ($1,062-1,090/mt) ex-works cash, unchanged from last Friday. Industry sources predicted that prices would remain firm in the coming week.

A consumer in Inner Mongolia said he got a quote of CNY7,700/mt ($1,062/mt) ex-factory cash for ferrosilicon 75%min 200-500mm from a local producer. The consumer said: “Producers are not accepting any requests for price reductions due to tight spot supply. I will consider accepting this offer as our production capacity is gradually restored and market supply remains limited,” he said, predicting prices would remain stable in the coming days.

The consumer has an annual consumption capacity of 9,600 tons and plans to consume 800 tons in May, unchanged from April. He holds 400 mt in stock. 2023 consumption is around 9,600 mt.

Another consumer in Inner Mongolia revealed that he asked for a quote for ferrosilicon 75%min 200-500mm from a producer in Shaanxi, and got an offer of CNY7,750-7,850/mt ($1,083/mt) delivered to cash.” I bought 200 tons at CNY7,750/mt ($1,069/mt) two days ago, and the price has remained stable since last Sunday,” the source revealed, adding, ‘If the price goes back down to CNY7,700/mt ($1,062/mt), we will continue to replenish some stocks.’ He predicted prices would remain firm in the coming week.

The consumer has an annual consumption capacity of 8,400 tons and plans to consume 700 tons in May, unchanged from April. He holds 200 tons in stock. consumption in 2023 is about 8,400 tons.


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