China's export price of ferrosilicon fell slightly

Due to weak domestic prices, the current mainstream export price of China ferrosilicon 75%min is $1,030- $1,060 / ton China offshore, down $20 / ton from the beginning of last week. Some Chinese exporters of si-fe have cut prices to boost sales because they are less motivated to buy abroad. Considering the fierce price competition among international competitors, industry insiders believe the price of ferrosilicon in China will fall further in the coming week.

"My current export quotation for 75% of ferrosilicon is usd 1,060 / ton offshore China 7-day wire transfer, unchanged from the beginning of last week. The lowest accepted price is usd 1,040 / ton, down usd 20 / ton from the beginning of last week. "The Korean customer offered $1,020 / ton for 300 tons, but I refused because of the high domestic production costs," he said, adding that their latest deal was to export 200 tons at $1,060 / ton early last week, and another order was to export 200 tons at $1,050 / ton arriving in busan in early October. His supplier in Inner Mongolia was able to accept a counter-offer of $7 a tonne this week due to slow demand from the magnesium ingots and weak export market. He learned from the Korean customer that the price of Malaysian silicon iron was $1,000 per ton in busan port, which led to a reduction in the purchase amount from China. He thinks China's ferrosilicon export prices will fall to $1,030 a tonne in the coming week. The trader has a regular monthly trade volume of 2,000 tons. They sold 1,500 tons in September and only 1,000 tons in October. Due to fewer inquiries, there is no inventory at present.

"I have received the lowest quotation from the Chinese supplier for 75%min of ferrosilicon at the port of busan of $1,040 / ton, including the freight of $8 / ton, which is $20 / ton lower than the beginning of last week. I couldn't win the Korean steel tender this week because the Malaysian and Russian prices are $40 / ton lower, "a south Korean trader revealed on Monday. He added that his most recent purchase from China was in late September, when he bought 50 tons for $1,055 a ton. Another purchase was in early September, when he bought 60 tons for $1,070 a ton. With Malaysia and Russia pulling down international procurement prices, he thinks China's 75%min export price will drop to $1,000 / ton in busan in the next week. The trader's regular monthly trade volume is 500 tons, and the sales volume in September is 500 tons. The sales volume in October is expected to remain unchanged, and there is no inventory at present.