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Ferrosilicon Prices Keeps Stable in China

Views: 22     Author: Site Editor     Publish Time: 2023-07-27      Origin: Site

Ferrosilicon Prices Keeps Stable in China

Manufacturers' inventories are low, and steel bidding season is coming. At present, the mainstream transaction price of ferrosilicon in China at 72%min is 5,450-5,650 yuan/ton ex-factory acceptance, up 50 yuan/ton from the beginning of last week, while the transaction in the spot market is relatively slow.

At present, most buyers are waiting for the price of representative steel mills to be released, which is expected to come out this week, and many in the industry believe that the price of silicon iron in China will remain stable in the coming week.

A trader in ningxia province said it had received an offer from a local supplier for delivery acceptance of ferrosilicon 72%min for 5,450 yuan per ton, up 50 yuan per ton from early last week, and postponed a 300-ton purchase order on Monday. "I made an offer of 5,400 yuan per ton, but the supplier was adamant that it would not back down, as two factories in ningxia stopped production early last week," the trader added on Monday. According to him, he bought 300 tons at 5,400 yuan per ton early last week, and suppliers he had previously accepted for 5,400 yuan per ton rose 50 yuan per ton this week because of a drop in ningxia production. He noted that most of their steel plant customers are waiting for purchase prices from typical steel mills as a reference, and he expects prices for ferrosilicon in China to stabilize at 72 percent min in the coming week due to slow transactions.

The trader, which currently holds 300 tons of inventory, regularly trades 2,000 tons a month, sold 1,500 tons in November and is expected to sell 2,000 tons in December as some steel mill customers plan to increase purchases in December. They sold about 25,000 tonnes in 2018 and 20,000 tonnes in the first 11 months of 2019.

"My current offer for ferrosilicon 72%min is 5,550 yuan/ton ex-factory acceptance, the lowest acceptable price is 5,500 yuan/ton, up 50 yuan/ton from the bottom line price at the beginning of last week," a producer in ningxia said on Monday. "Today a anhui foundry customer offer 60 tons 5450 yuan/ton, but I refused, because we now inventory is less, and our products are lower than those of standard products, aluminum content," he said, adding that her two weeks ago sell at a price of 5450 yuan/ton 60 tons, sold at the same price in mid-november 30 tons, less than 200 tons, the current inventory than early November plunged by 50%. She pointed out that although inquiries are active, most customers do not place orders and are waiting for the purchase price from hebei steel mills. He thinks China ferrosilicon prices of 72%min will stabilize in the coming week.

The producer has an annual capacity of 30,000 tons, produced 1,500 tons in November and is expected to hold steady in December, with about 200 tons in stock. The manufacturer leases two 12,500kva furnaces, both of which operate off-peak. They will produce 20,000 tons in 2018 and 15,000 tons in january-november 2019.

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