China Ferro Silicon prices remain stable

Today, there has been no significant improvement in downstream demand for Ferro Silicon, and producers are maintaining stable shipments. Currently, the mainstream price for 75% min 200-500mm Ferro Silicon in China is 6,900-7,100 CNY/MT EXW Price, which is unchanged from the beginning of the week. Due to most consumers purchasing only as needed while supply increases, industry insiders predict prices will decline next week.

A producer in Shaanxi stated that today he quoted 75% min 200-500mm Ferro Silicon at 7,100 CNY/MT EXW Price, but he is willing to accept a counteroffer of 100 CNY/MT lower for orders exceeding 100MTs. "Today, I sold about 60MTs at 7,100 CNY/MT EXW Price, but some customers are holding back, trying to buy at prices below 7,000 CNY/MT. I just shut down one of my two 25,500kva electric furnaces to avoid losses," said the producer, who sold about 100MTs to a regular customer on Monday at 7,050 CNY/MT EXW Price. He expects prices to decline in the coming days.

The producer has an annual capacity of 51,000MTs and plans to produce 3,000MTs in July, about 1,000MTs less than in June. He holds 200MTs in stock and produced approximately 45,000MTs in 2023.

Another producer in Shaanxi quoted 75% min 200-500mm Ferro Silicon at 7,100 CNY/MT delivered cash today, including about 50 CNY/MT in freight charges. He sold about 100MTs at this price yesterday. "Most customers refused to buy at prices above 7,000 CNY/MT delivered cash today, so I didn't make any transactions. I might reduce the price by about 50 CNY/MT tomorrow to test the market," disclosed the producer, who sold about two truckloads at 7,080 CNY/MT delivered cash two days ago. He also expects prices to decline in the coming days.

This producer has an annual capacity of 36,000MTs and plans to produce 3,000MTs in July, almost the same as in June. He holds 200MTs in stock and produced approximately 35,000MTs in 2023.