Driven by the strong price in the Chinese market, the mainstream export price of ferrosilicon in the Chinese market has increased by about US $10/ton compared with the beginning of last week. Industry insiders expect that the export price of China’s ferrosilicon will remain stable in the next week as the price of ferrosilicon from international suppliers rises.
A northern trader said on Monday: “My current offer for 72% of ferrosilicon offshore of Tianjin has increased by US $10/ton from the acceptable benchmark price at the beginning of last week.” The spot market is tight, and most producers are unwilling to ship within 15 days of less than US $798/ton of ex-factory cash. With the appreciation of the RMB, my price is higher than that at the beginning of last week. “The trader said that his overseas buyer said that due to the shortage of spot supply, The price of Malaysian suppliers has increased by $20 to $30 per ton from two weeks ago, and he expects that the export price of Chinese ferrosilicon will remain at the lowest level of 72% in the next week.
The dealer regularly sells 200 tons of ferrosilicon every month, compared with about 150 tons in November. It is expected that the sales will be flat in December. In 2018, the trader sold about 24000 tons of ferrosilicon, and about 1500 tons in the first 11 months of this year.
