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Driving Force for FeSi Price Rising Seemed Inadequate in China in Mid December

Source: Time:2013-12-12 08:41:48 frequency:

The mid December was around the corner, while driving force for ferrosilicon price rising seemed inadequate. Mainstream FeSi75# was RMB6,550-6,600/mt(USD1,079-1,087/mt) and FeSi72# was RMB6,300-6,350/mt(USD1,038-1,046/mt), export duty not included, ex-work tax-inclusive price by acceptance. Some large producers offered higher quotations, but they said the dealing price had not caught up with the rising range. Environmental checks had affected a few ferrosilicon producers, but many kept normal production.
Ferrosilicon producers and exporters were paying much attention to any news about export duty on ferrosilicon whether it would be lowered or cancelled. Affected by high export duty rate on ferrosilicon, exporters had very tough business and much shrinking profits. Export quotation of FeSi75# was USD1,460-1,480/mt FOB at Tianjin Port. According to major ferrosilicon exporters, since November foreign ferrosilicon buyers had held sidelined attitude toward purchase and there had been very few orders. While Christmas holiday fell in late December, European and US ferrosilicon market would see active transaction activity in mid December. What’s more, European and Japanese ocean freights were likely to go up in mid December, export price of ferrosilicon was predicted to rise further in mid December.
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