China's ferrosilicon export market slows down

The Chinese ferrosilicon market has been running slowly over the past two days due to inactive orders from overseas customers. However, exporters have refused to cut prices due to large price fluctuations in the domestic market. Currently, the mainstream export price of Chinese ferrosilicon 72%min 10-50mm is $1,290-1,320/ton FOB China, which is the same as last weekend. Industry insiders expect that export prices will remain stable in the coming days amid a wait-and-see atmosphere in the market.

We just received an inquiry for ferrosilicon 72%min 10-50mm today, but no deal has been made since the middle of last week. We quoted at $1,290/ton FOB China and refused to counter-offer. At present, demand in major countries such as Japan and South Korea remains weak, and customers are not actively buying, and are currently waiting for Chinese ferrosilicon prices to stabilize. An old customer tried to buy 100 tons at $1,200/ton, but we refused. However, due to domestic price fluctuations, we will not reduce prices and predict that export prices will remain stable in the coming days.

In addition, we have received two or three inquiries from Japanese customers for ferrosilicon 72%min 10-50mm, with an offer price of USD1280/ton FOB Tokyo Port, but no deal has been made yet due to the continued rise in domestic ferrosilicon prices. We just sold 300 tons to the European market at $1290/ton FOB China last weekend. But since mid-May, it has been difficult for us to make large deals as overseas customers tend to purchase in parallel in mainland China and Malaysia to avoid price fluctuations. However, supported by the rise in domestic market prices, we have no intention of adjusting prices and believe that ferrosilicon export prices will remain stable next week.