China's ferrosilicon market is in short supply

2024-5-30This week, the Chinese market is still relatively short of ferrosilicon supply, and downstream consumers are actively purchasing. The mainstream price of 75% ferrosilicon in China is 7,700-7,900 yuan/ton (1,062-1,090 US dollars/ton) cash delivery, which is the same as Monday. Industry insiders said that at present, ferrosilicon suppliers have insufficient inventory and downstream demand is positive, so China's ferrosilicon prices may remain stable in the next week.

A consumer revealed that today he asked for 75% iron ferrosilicon 200-500mm from manufacturers in Ningxia and Qinghai, and received a quote of 7,700-7,800 yuan/ton (1,062-1,076 US dollars/ton) cash delivery, including 100 yuan/ton (14 US dollars/ton) freight. "I bought a total of 500 tons from Qinghai and Ningxia last weekend at 7,700 yuan/ton (1,062 U.S. dollars) cash delivery," the consumer revealed. "Since the general stock is tight in the market, I will try to replenish it at 7,650 yuan/ton (1,055 U.S. dollars). "He expects prices to remain stable in the coming days.

Another producer said that today he is offering 7,800 yuan/ton (1,076 U.S. dollars) ex-factory cash and will not sell it below 7,750 yuan/ton (1,069 U.S. dollars). "Since yesterday, I have received more than a dozen inquiries, and the price is roughly around 7,750 yuan/ton (1.069 U.S. dollars), but we currently have no inventory and can only produce and sell on a first-come, first-served basis," the producer said. "Demand is stronger than we expected, and we are already producing at full capacity." He predicted that prices will remain stable in the coming week.

The producer has an annual production capacity of 468,000 tons and plans to produce 30,000 tons in May. He currently has no inventory.