Chinese Ferrosilicon Prices Decline

Due to loosened pricing by producers, the mainstream transaction price of Chinese FerroSilicon (72%min, 10-50mm) has dropped by about CNY 50/MT compared to two days ago, now standing at CNY 5,950-6,150/MT EXW Price. Industry insiders expect the mainstream price of 72%min FerroSilicon in China to stabilize in the coming week.
A producer in Inner Mongolia revealed, "Today, we offered FerroSilicon 72%min (200-500mm) at CNY 5,900/MT EXW Price, hoping to sell at no less than CNY 5,850/MT, but we were still holding firm at CNY 5,900/MT last weekend." They have not concluded any transactions this week, receiving three inquiries where buyers insisted on purchasing below CNY 5,800/MT. One customer bought about 70 MTs at CNY 5,850/MT last weekend, while another bought about 35 MTs at CNY 5,900/MT mid-last week.
The producer added that yesterday these two customers procured from other suppliers at CNY 5,800/MT and expects FerroSilicon prices in China to stabilize in the coming week. This producer has an annual production capacity of 25,000 MTs and produced about 900 MTs in November, the same as last month, with current inventory standing at around 300 MTs.
A producer in Ningxia today quoted FerroSilicon 72%min (10-50mm) at CNY 6,150/MT EXW Price, willing to sell at CNY 6,100/MT, marking a CNY 100/MT drop compared to Monday. Today, they received an inquiry from a customer looking to purchase 100 MTs at CNY 6,050/MT but refused as they aim to maintain prices. Yesterday, they sold about 70 MTs at CNY 6,100/MT. The producer noted, "We had almost no sales last week and lowered our quotation by CNY 50/MT to CNY 6,150/MT on Monday, initially sticking to that price without success. We then started to accept concessions of up to CNY 50/MT." They added that downstream purchases in the latter half of this month have significantly declined compared to the earlier half.
Due to producers holding firm on pricing, this producer expects mainstream FerroSilicon prices in China to stabilize in the coming week. The producer has an annual production capacity of 86,500 MTs and plans to produce about 8,000 MTs this month, the same as last month, with almost no current inventory.

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