Supported by the shortage of spot supply, the mainstream export price of 75% of the lowest ferrosilicon in Malaysia increased by 20 dollars/ton from the beginning of last week. As Asian demand has not yet recovered, industry insiders generally believe that Malaysia’s export price of ferrosilicon will remain stable in the next week.
A Malaysian manufacturer said on Thursday: “At present, my offer for ferrosilicon with the lowest CIF price of 75% in Asia is slightly higher than that of last week by $20/ton”. The manufacturer added: “Since Japanese customers will not return to the market until next Monday, we have not received any exact inquiries this week.”
Due to the tight spot supply, he raised the quotation to about US $20 per ton this week, and believed that the export price of Malaysian ferrosilicon would be stable in the next week due to the lack of recovery in demand.
