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Chinese Ferrosilicon Prices Climbing

Views: 220     Author: Site Editor     Publish Time: 2024-04-26      Origin: Site

Chinese Ferrosilicon Prices Climbing

Stimulated by tightening spot supply, the current mainstream price of Chinese ferrosilicon 75%min 200-500mm has increased by RMB 100/mt ($14/mt) to RMB 6,800-7,000/mt ($938-965/mt) ex-works spot from mid-week. Given active purchasing and supply shortages, industry insiders forecast that mainstream prices for ferrosilicon 75%min 200-500mm in the Chinese market will rise further next week.

A consumer in Shaanxi revealed that he purchased 200 tons of ferrosilicon 75%min-200-500mm from a local supplier on Sunday at 7.000 yuan,ton ($965,ton) delivered-to-cash, including freight charges of 20 yuan,ton ($3,ton), while he last purchased on Wednesday at 6.900 yuan,ton ($952,ton) from the supplier purchased 100 tons. "I tried to get 400 tons at 7,000 yuan/ton ($965/ton), but refused because the supplier could not provide enough supply," the consumer revealed. He added that he could get enough supply from one or two suppliers in March, but in April he had to get supply from at least four suppliers due to production cuts by some major suppliers. He expects mainstream prices for Chinese ferrosilicon 75%min 200-500mm to rise further next week, supported by reduced supply.

The consumer, which has an annual consumption capacity of 24,000 tons, is expected to consume about 1,200 tons in April, about 500 tons less than in March. He holds about 600 tons in stock. His total consumption last year was about 20,000 tons.

Another consumer in Shaanxi revealed that he bought 200 tons of ferrosilicon 75%min 200-500mm from a regular supplier in Ningxia on Saturday at a delivery-to-cash price of 7,000 yuan ($965/mt), including freight at 80 yuan ($11/mt), while the supplier sold him 100 tons on Wednesday at 6,900 yuan ($952/mt) . The consumer revealed:Â "I didn't purchase from suppliers in Ningxia before, but since the beginning of April, I have had to purchase material from Ningxia suppliers because my regular supplier in Shaanxi has reduced production." He added that he expects the mainstream price of Chinese ferrosilicon 75%min 200-500mm to rise further next week as a result of active inquiries and reduced supply from all local suppliers in Ningxia and Shaanxi.

The consumer, with an annual consumption capacity of 18,000 tons of ferrosilicon, expects to consume around 1,000 tons in April, down around 500 tons from the previous month, with stocks of around 300 tons. His consumption in 2023 will be around 15,000 tons.

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