China's Ferrosilicon Prices Stay High While Offers Move Down In Japan
9 September 2016
While Chinese ferrosilicon offers remained high from rising Chinese semi-coke prices, offers heard have moved lower in Japan on thin trade, sources said.
The Chinese 75% Si ferrosilicon price assessment was unchanged week on week at $1,000-$1,040/mt FOB China Thursday.
Meanwhile, Platts assessed spot Japanese import price of 75%-Si ferrosilicon at $950-$990/mt CIF Japan Thursday, down from $950-$1,050/mt last week.
In China, market sources said domestic prices were rising. September tender prices for many of the larger steel mills were said to have risen about Yuan 200/mt ($30/mt). For example, one major Chinese steel mill was said to have settled a tender at Yuan 5,150/mt for 1,200 mt, delivery to plant.
Another mill was heard to have settled a tender for ferrosilicon 72% Si at Yuan 4,980/mt, delivery to plant.
Producers were heard quoting prices of $1,060-$1,110/mt, FOB China, though overseas buyers were not heard. Ferrosilicon exports from China will have an added 25% tax as well as a 17% VAT charge.
Meanwhile, offers for Russian offers were unchanged week-on-week, while a few Chinese producers lowered offers to align with Russian price levels, Japanese traders said.
Russian offers were in the range of $950-$990/mt CIF Japan, for October loading.
Chinese producers were heard to be offering $990/mt CIF Japan and $1,085/mt CIF Japan, for end September-October loading in Northeast China.
No Malaysian offers were heard in the Japanese market this week.
Inquiries in Japan were heard for 50-200 mt volumes from electric arc furnace steelmakers for dates from October to December. However, there were no import deals reported despite the rise in inquiries from local electric arc furnace steelmakers, as the volumes were for 50-60 mt, which Japanese traders have in stock at their warehouses.
Price negotiations were expected to heat up between Japanese traders and mills next week for larger volumes, traders said. Orders were also expected to increase next week, possibly pushing prices up.
In Southeast Asia, Malaysian material was offered at higher prices, due to the rise in semi-coke prices, with offers and trades at $980-$990/mt CIF Southeast Asia heard.
Source : platts.com