An Inner Mongolia-based producer with current output of 3,500tpm of ferrosilicon 75% disclosed that they quoted RMB7,000/t ex works on Thursday, a decrease of RMB100/t against that of last week, and they concluded a deal of 500t at RMB6,900/t ex works on Wednesday. “We do not have any stocks for the moment, and we have almost booked out all of our output in January,” remarked the source.
The source expressed that as the luner New Year is approaching, they just want to sell all the material be giving a discount.
A Shanxi-based consumer with a monthly consumption of 1,500tpm of ferrosilicon 75% confirmed that they got offers from the suppliers at RMB6,900-7,000/t ex works this week, down from RMB7,000-7,100/t early last week, and they just booked 600t of the material from a Ningxia supplier at RMB6,900/t ex works on Thursday. The source expressed that most of the producers have adjusted their quotations downward to RMB6,900-7,000/t ex works, and they just want to contract all their material before the New Year holiday.
“The New Year is drawing close, it is expected that there will be more buying activities in the next few days as the consumers who want to replenish the material before luner New Year must give extra days for the transporation,” said the source
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