The export transactions of Chinese ferrosilicon are sluggish

Currently, overseas customers are adopting a wait-and-see approach, and the export transaction volume of Chinese FerroSilicon is light. Due to the stability of domestic market prices, the mainstream export price for Chinese FerroSilicon 75%min 10-50mm remains stable at USD 1,180-1,210 /MT FOB China, and USD 1,140-1,170 /MT FOB China excluding taxes, compared to last weekend. Industry insiders expect that the export price of Chinese FerroSilicon will stay at this level for the next week.
An exporter in the northwest region has kept the export price for FerroSilicon 75%min 10-50mm stable at USD 1,230 /MT FOB China, and can accept a bottom price of USD 1,200 /MT. "Today, we received an inquiry from a customer trying to buy 100 MTs at USD 1,190 /MT, which we rejected because the price was close to our cost line," the exporter revealed. They added that since the Chinese New Year holiday ended, they have received 5-6 inquiries, but after quoting, most did not follow up. Another customer even offered USD 1,180 /MT. The last order they made was in late January, where they sold about 100 MTs at an onshore price of USD 1,260 /MT. The exporter stated that due to support from domestic prices, they will not reduce prices even though transactions are slow and expect that Chinese FerroSilicon export prices will remain at the current level for the next week. The exporter’s regular monthly trade volume is 600 MTs, and they plan to trade about 300 MTs in February, which is almost the same as January, and they currently have no stock.
An exporter in the Hebei region is quoting USD 1,150 /MT FOB China excluding taxes for FerroSilicon 75%min 10-50mm, with a possible discount of USD 10 /MT. They have received three inquiries this week, and after quoting, only one customer followed up. However, the customer insisted on buying at USD 1,130 /MT, which resulted in no deal. "After the Chinese New Year holiday, we sold about 50 MTs at USD 1,140 /MT last weekend, and the last order before the holiday was 300 MTs at the same price," the exporter revealed. They expect most exporters will not be willing to lower prices further, so they believe the mainstream export prices of Chinese FerroSilicon will remain stable for the next week. This trader’s regular monthly trade volume is 500 MTs, and they plan to sell 300 MTs in February, which is about 200 MTs less than in January, and they currently have no stock.
For more market trends or product information please contact Hainan West Asia Import & Export Group.

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