The price of Chinese silicon iron is falling

Given weak demand, the mainstream price of Chinese silicon iron 75%min lump has fallen by about 200 CNY/MT to 6200-6400 CNY/MT ex-factory cash payment price compared to last Friday. Industry insiders believe that the mainstream price of Chinese silicon iron 75%min may face further decline this week.

A producer in Fugu area completed two orders for local buyers this Monday at an ex-factory cash payment price of 6300 CNY/MT, totaling about 500 MT, while last week they sold about 200 MT at an ex-factory cash payment price of 6400 CNY/MT. "The price has dropped by about 100 CNY/MT in recent days, and this week we may sell another 200 MT at a price of 6300 CNY/MT," the producer revealed, believing that the mainstream price of silicon iron 75%min lump will further decline this week.

The producer has two 25,500 kva furnaces, currently only one is operational. Their daily output this month is 50 MT, a decrease of 20 MT from last month. They have no inventory.

Another producer in Inner Mongolia claims that they are now quoting 6300 CNY/MT delivered price for silicon iron 75%min lump delivered to Fugu, with freight of about 60 CNY/MT, while the price delivered to Shanxi is 6500 CNY/MT, with freight of about 140 CNY/MT. Last Thursday, they received an order for 350 MT delivered to Shanxi at a price of 6500 CNY/MT. "Prices have been continuously falling," they believe that the price of silicon iron 75%min lump will further decline this week.

The producer has two 25,500 kva furnaces, currently only one is operational. They sold about 1900 MT this month, a decrease of 150 MT from last month.