The export price of Chinese Silicon Metal has dropped.

Due to the depreciation of the Chinese yuan against the US dollar and increased inventory in China, the mainstream export price of Chinese Silicon Metal 4-4-1 has fallen by $20/MT to $2,000-$2,050/MT China Offshore, compared to two weeks ago. Industry insiders predict that the mainstream export price of Chinese Silicon Metal 4-4-1 will remain stable this week as most suppliers are unwilling to further reduce prices due to high production costs.
A trader from South Korea revealed that on Tuesday, he purchased 40 MT of Silicon Metal 4-4-1 from a regular supplier in China at a price of $2,020/MT Busan to shore, including freight of $20/MT. He had negotiated with the supplier before the Chinese Spring Festival at the same price, but was rejected when the supplier insisted on a price of $2,050/MT at that time.
"This week, my supplier slightly lowered the price by $20/MT due to the depreciation of the yuan against the US dollar and increased inventory in China, but it is difficult for the supplier to further reduce the price due to high production costs," the trader disclosed. Considering the high production costs in China, he expects the mainstream import price of Silicon Metal 4-4-1 in China to remain stable this week.
The company's regular monthly import volume of Silicon Metal is 500 MT, but due to slow purchases in Korea, it is expected to purchase around 300 MT in February, a decrease of about 200 MT from the previous month. The trader's inventory is around 200 MT, and last year's sales volume was about 4,000 MT.
A trader from Fujian revealed that he is currently quoting Silicon Metal 4-4-1 at $2,050/MT China Offshore, and on Tuesday, he sold 20 MT at a price of $2,050/MT Japan to shore, including freight of $20/MT, while two weeks ago he could not accept a price lower than $2,050/MT.
"This week, the yuan has appreciated compared to last week, and spot market supply has increased after the Chinese holiday," he added, stating that due to high production costs, most Silicon Metal factories do not plan to further reduce prices. He expects the mainstream export price of Chinese Silicon Metal 4-4-1 to stabilize this week. The trader's monthly regular trading volume of Silicon Metal is nearly 300 MT, and he expects to sell around 200 MT in February, a decrease of about 100 MT from the previous month. The trader has no inventory, and his total sales volume last year was about 3,000 MT. For more market trends please contact Hainan West Asia Import & Export Group.
 

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