Author: Site Editor Publish Time: 2024-10-17 Origin: Asian Metal
Supported by slightly higher prices in China but dragged down by the depreciation of the yuan against the dollar, the mainstream import price of silicon metal 3-3-03 in the South Korean market is now stable at $1,800-1,830/mt CIF Korea. Considering the reduction of Chinese supply, industry insiders predict that the price of mainstream imported Si3-3-03 metal in South Korea will rise next week.
A South Korean trader disclosed that a conventional supplier is currently offering silicon metal 3-3-03 at $1,830/mt CIF Korea, and he bought 60 tons at $1,800/mt for shipment at the end of October after an unsuccessful bid of $1,780/mt on Wednesday, whereas he was unable to get a price lower than $1,800/mt from three suppliers earlier last week. “More than half of the suppliers raised their offers, spurred by reduced Chinese supply in November, and most of them were still able to offer the same price as last week, influenced by the depreciation of the yuan against the dollar and low overseas demand,” the trader revealed. He expects import prices for South Korea's silicon metal 3-3-03 to rise slightly next week, spurred by reduced supply from China.
The trader, who routinely trades 500 tons per month, expects to import about 300 tons in October, down about 200 tons from the previous month, and currently holds about 300 tons in stock.
Another South Korean trader revealed that a regular supplier of silicon metal 3-3-03 is currently offering $1.850/mt CIF Korea, and he bought 30 tons at $1,820/mt after bidding $1,800/mt this week, and 30 tons at $1,820/mt at the beginning of last week. The trader revealed, “Stimulated by the reduced supply in South China in November, Chinese exporters intend to raise prices, while demand in South Korea is slowing down, and my purchases in October will be less than in September.” He expects the import price of silicon metal 3-3-03 in the South Korean market to rise slightly by $30 per ton next week, but it will not rise sharply due to the low demand in South Korea.
The trader, with a regular monthly trade volume of 300 tons of silicon metal, expects to import about 200 tons in October, about 100 tons less than the previous month, and the current inventory stays at about 200 tons.
