Author: Site Editor Publish Time: 2023-06-08 Origin: Site
Pittsburgh warehouse, down 2 cents a pound from a week ago, spot market volume was little. U.S. ferrosilicon prices are expected to hold steady in the coming week, given increased demand from other international markets and stable prices from international suppliers.
"I now to ferrosilicon 75% min quotation is $0.73 / lb silicon Pittsburgh warehouse, this weekend I'm at $0.73 / lb sold 100 tons, the price of silicon base than the weekend down $0.02 / lb silicon," the east coast of the United States to traders said on Friday, in a deal is at the end of October, sold at the price of $0.75 / lb silicon to 50 tons, two single freight are basically identical. He added that 200 tonnes were sold in the first half of October, compared with just 100 tonnes in the first half of November, as inquiries from steel mills were positive but still bearish, waiting for prices to fall. With Brazilian ferrosilicon prices stable at $0.66 per pound of silicon Baltimore arrival, he thinks U.S. ferrosilicon prices will hold steady in the coming week.
The trader regularly trades 300 tons per month, sold 300 tons in October and is expected to sell 200 tons in November as demand weakens and they currently hold about 100 tons of inventory.
Another east coast trader said his current offer for 75% of ferrosilicon is a 30-day wire transfer of $0.72 / lb of silicon Pittsburgh. He can accept a counter-offer of $0.02 / lb of silicon, but still no deal this week. "A customer sent an inquiry for 300 tons, but the customer had a target price of $0.68 / lb of silicon and delayed the purchase," the trader said on Friday, noting that his last order was in early November to sell 100 tons for $0.73 / lb of silicon, with shipping costs of about $0.02 / lb of silicon. He also revealed that he could close a deal with three inquiries in a regular month, but could not close a deal with five inquiries in November because most steel customers were waiting for prices to fall. He sees Malaysian and Brazilian ferrosilicon producers holding their prices steady as demand from European steel mills grows, so he sees U.S. ferrosilicon prices holding steady in the coming week.
The trader's regular monthly trade volume is 500 tons, the sales volume in October is 500 tons, the sales volume in November is expected to be flat, and the current inventory is 300 tons.
