Ferrosilicon sees bleak export and lower price
It is reported that, owing to the bleak ferrosilicon market and little demand from abroad, few deals of ferrosilicon are seen. At present, the mainstream price of 75# ferrosilicon prevails at USD 1,650 to USD 1,690 per tonne.
A foreign trader, who is holding 1,000 tonnes of ferrosilicon stock, doesn't plan to purchase ferrosilicon in the coming weeks after receiving Chinese offer at USD 1,730 per tonne CIF Korea. The reason is clear ferrosilicon price is declining now. He also revealed that a smelting plant had purchased 75# ferrosilicon at USD 1690 per tonne CIF Korea last week.
A domestic producer quoted 70-75# ferrosilicon at USD 1625 per tonne FOB India. It produces about 1,500 tonnes of ferrosilicon monthly and sold 300 tonnes at the price of USD 1,650 per tonne this week. The producer says there are some inquires now, but only a few deals are made. In the coming weeks, ferrosilicon market will remain low.
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