The Price of Ferrosilicon in China Is Stable

due to the smooth procurement of downstream customers, the current price of 75%min ferrosilicon in the Chinese market is stable at 5,700-5,900 yuan/ton ex-factory cash, which is stable compared with the price last week. Considering the stable supply, industry insiders expect the price of 75%min ferrosilicon in the Chinese market to remain stable in the coming week.

A magnesium metal factory in Shanxi Province said it bought 300 tons from qinghai on Wednesday at a cash price of 5,900 yuan per ton, including freight of about 200 yuan per ton, unchanged from the beginning of last week. "I tried to counter-offer to 5850 yuan/ton, but supplier sourcing of magnesium plant stability and refused to cut prices," the source said on Wednesday, saying the last purchase is the beginning of last week with the same price for purchasing 300 tons, most of his qinghai, Inner Mongolia supplier for more than 80% magnesium plant customer purchase frequency and the purchase quantity is stable, the prices are stable. He revealed that ningxia, qinghai, Inner Mongolia, most of the 75%min ferrosilicon manufacturers to maintain a stable operating rate, he expected the next week China ferrosilicon 75%min price will remain stable. The magnesium plant has an annual consumption capacity of 20,000 tons of ferrosilicon, and consumed about 1,500 tons in October. The consumption is expected to be stable in November, and currently holds 500 tons of inventory. They consumed 18,000 tons in 2018 and 15,000 tons in the first October of 2019. A source at another magnesium plant in shanxi said that a 75%min inquiry for 1,000 tons of ferrosilicon was sent earlier this week. The lowest price in Inner Mongolia was 5,950 yuan per ton in cash, including about 230 yuan per ton of freight, which was the same as the supplier's lowest price last week. "I counter-offer to 5900 yuan/ton, but suppliers due to the shortage of supply relative refuses to budge," the source said on Wednesday, saying the last procurement is at the end of October 1400 tons in the price of 5590 yuan/ton, in early October in a similar price to purchase 1400 tons, this week because of the metal magnesium plant procurement is relatively stable, two suppliers of Inner Mongolia metal prices are stable. Considering that the supply from big factories is relatively short but still stable, he predicted that the price of 75%min ferrosilicon in the Chinese market would remain stable in the next week. The ferrosilicon consumer at the magnesium plant has an annual consumption capacity of 36,000 tons, consumed about 2,500 tons in October, and expects consumption to be stable in November. It currently holds 1,000 tons of inventory. They consumed 30,000 tons in 2018 and 25,000 tons in the first October of 2019.