The price of ferrosilicon in South Korea will rise slightly

News 2021-02-04

Due to the tight spot supply in Korea but the slow demand, the current mainstream price of 75% min 10-50mm ferrosilicon is 1,530-1,590 South-Korean Won /kg(usd 1.37-1.42 /kg) duty paid, unchanged from the beginning of last week. In view of the falling prices of international suppliers, industry insiders believe that the price of the product will fall in the coming week.

A South Korean trader revealed that he sold 60 tons of ferrosilicon 75% min at a price of 1,550 South Korean Won /kg (US$1.38/kg) on​Tuesday, and he was also unable to accept a lower price early last week. “Only one of our five customers has purchased about half of the normal level this week. Other customers have remained on the sidelines due to the loosening of prices in the Chinese market. However, due to the temporary shortage of spot supply, I cannot give lower the price,” the trader revealed on Tuesday. . He said that as part of the Chinese goods originally scheduled to be delivered at the end of January was delayed until the arrival in mid-February, his inventory continued to decline, but he believed that as the supply from China increased, the price of the product would fall slightly in the coming week.
The trader’s regular monthly trade volume of ferrosilicon is about 300 tons. It is expected to sell about 300 tons in January, which is about 200 tons less than the previous month. It currently holds about 50 tons of inventory, a slight decrease from the previous month. His total trade volume in 2020 is about 4,000 tons.Another South Korean trader revealed that he sold 90 tons of ferrosilicon 75% min 10-50mm at the price of 1,530 South Korean Won/kg (US$1.37/kg) at the beginning of this week, which was basically the same ton price at the beginning of last week. Sold 30 tons. “Although most customers are staying on the sidelines due to the decline in prices in the Chinese market. However, due to the delayed delivery of some Chinese goods, our current inventory continues to decrease, so we cannot adjust lower the price,” the trader said on Tuesday. For Chinese goods, given the gradual increase in supply from Chinese and Korean local traders, he expects that the price of Korean ferrosilicon 75%min 10-50mm will decline in the coming week.

The trader’s regular monthly trade volume of ferrosilicon is about 500 tons. It is expected to sell about 500 tons in January, which is about 200 tons less than the previous month. The current inventory is about 200 tons, which is a decrease from the previous month. He sold about 5,000 tons in 2020.

At present, the inventory of semi coke is still available, which can meet the purchasing needs of customers. With the approaching of the Spring Festival, the transportation rate is very high and the transaction volume of semi-coke is not high.