The export price of Chinese ferrosilicon is declining

Due to the downward pressure from falling prices in China, the mainstream export price of Chinese ferrosilicon (75% min, 10-50mm) has dropped by $30/MT from earlier this week to the current range of $1,270-$1,300/MT FOB China. Given the weak overseas demand, industry insiders expect that the export price of Chinese ferrosilicon (75% min, 10-50mm) will continue to decline next week.

An exporter from Henan disclosed that his current offer for ferrosilicon (75% min, 10-50mm) is $1,300/MT FOB China. After receiving a bid of $1,280/MT CIF from a customer on Thursday, he sold 200MTs at a price of $1,290/MT CIF Japan, with freight costs of $10/MT and prompt shipment. Earlier this week, he had insisted on $1,310/MT and rejected a firm bid of $1,280/MT CIF Korea for 150MTs, with freight costs of $10/MT. The exporter revealed, "Compared to Monday, my procurement price for ferrosilicon (75% min) has dropped by about 200 yuan/MT ($29/MT), so I lowered my price to secure orders." He added that most overseas customers remain pessimistic about the outlook and have delayed their purchases. He expects that the export price of Chinese ferrosilicon (75% min, 10-50mm) will continue to decline next week.

This company typically exports 800MTs per month, but its export volume in August is expected to be around 300MTs, a decrease of approximately 500MTs compared to the previous month. Currently, they have no inventory. Another exporter from Jiangsu revealed that his current offer for ferrosilicon (75% min, 10-50mm) is $1,290/MT FOB China. On Thursday, a customer bid $1,280/MT, and he eventually sold 200MTs to the customer at $1,285/MT. Earlier in the week, he had been unwilling to accept a price below $1,300/MT. The trader stated, "Due to weak demand in China, the price of Chinese ferrosilicon fell slightly this week by 100-200 yuan/MT ($14-$29/MT), and Chinese ferrosilicon prices are still on a downward trend. I expect that the export price of Chinese ferrosilicon (75% min, 10-50mm) will continue to decline." This trader typically exports 500MTs per month, but his export volume for August is expected to be around 200MTs, a decrease of about 200MTs compared to the previous month, and he currently has almost no inventory.

For more product information, please contact Hainan West Asia Import & Export Group.