Market trend of import of ferroalloy as of 14 February 2014 is as follows.
<> Silicon Metal = Chinese New Year Holidays finished in China, and the market started to move in full swing from February 10. The deal with producers is mainly meant for shipping in March, and the offer for export is only for March shipment. As far as the price is concerned, the downward trend at the end of January continued and the contract price is lowered by US$40 - US$50.
Besides, there is a rumor that the electricity rate will be raised in the main producing areas in China, and therefore some producers seem to begin to consider the suspension of production also for the reason of the market being in the doldrums.
<> Ferro-silicon = In the Chinese market, the downward trend has continued even after Chinese New Year Holidays, and the situation of tapering down is going on. Although the producers have no surplus stock for shipping in February and the deal is mainly meant for shipping in March, no brake has been put on the declining price in the market because of anticipation of excess supply which lies ahead due to the recovery in production after the holidays. The yuan's appreciation continues against US dollar, but even for that, the price of ferro-silicon exported via regular routes dropped by US$20 per ton. For a reference, at the port of Tianjin, the regulation on the substandard ship has been enforced, and some problems have occurred in loading onto bulk carriers.
In Japan, the cheap products of Chinese origin via the third country was distributed less because there were Tet Holidays (from January 28 to February 5) in Vietnam. However, for the reason that the cargoes which were shipped after the holidays will be arriving and the cheap products the trading firms in Vietnam purchased from the end of last year to January will be contained, some market watchers see the price will be lowered further.
Both offer and contract prices of Russian products remained unchanged from the end of January.
<> Silico Manganese = In Europe, the feeling of tight supply for spot goods has become strengthened due to the political unrest in Ukraine and the production curtailment by Nikopol. The price is going up, but it seems to take more time that this will affect the market in Japan. However, Indian producers began to offer a high price and the offer price went up by US$10 - US$20 per ton from the end of January. However, some of Japanese steel mills are taking an attitude to check the large price hike by saying they are prepared to switch over to ferro-silicon and high-carbon ferro-manganese if the price of silico manganese surpasses a certain price level.
In the Chinese domestic market, the prices of both high-carbon ferro-manganese and silico manganese dipped from the end of January. At the moment, the foreign exchange market shows the appreciation of yuan, but the offer price for export has come down, and the one meant for Japan has dropped by US$10 - US$15 CIF per ton from the end of January. But, the situation of almost no deal being clinched is going on.
<> Silicon Metal = Chinese New Year Holidays finished in China, and the market started to move in full swing from February 10. The deal with producers is mainly meant for shipping in March, and the offer for export is only for March shipment. As far as the price is concerned, the downward trend at the end of January continued and the contract price is lowered by US$40 - US$50.
Besides, there is a rumor that the electricity rate will be raised in the main producing areas in China, and therefore some producers seem to begin to consider the suspension of production also for the reason of the market being in the doldrums.
<> Ferro-silicon = In the Chinese market, the downward trend has continued even after Chinese New Year Holidays, and the situation of tapering down is going on. Although the producers have no surplus stock for shipping in February and the deal is mainly meant for shipping in March, no brake has been put on the declining price in the market because of anticipation of excess supply which lies ahead due to the recovery in production after the holidays. The yuan's appreciation continues against US dollar, but even for that, the price of ferro-silicon exported via regular routes dropped by US$20 per ton. For a reference, at the port of Tianjin, the regulation on the substandard ship has been enforced, and some problems have occurred in loading onto bulk carriers.
In Japan, the cheap products of Chinese origin via the third country was distributed less because there were Tet Holidays (from January 28 to February 5) in Vietnam. However, for the reason that the cargoes which were shipped after the holidays will be arriving and the cheap products the trading firms in Vietnam purchased from the end of last year to January will be contained, some market watchers see the price will be lowered further.
Both offer and contract prices of Russian products remained unchanged from the end of January.
<> Silico Manganese = In Europe, the feeling of tight supply for spot goods has become strengthened due to the political unrest in Ukraine and the production curtailment by Nikopol. The price is going up, but it seems to take more time that this will affect the market in Japan. However, Indian producers began to offer a high price and the offer price went up by US$10 - US$20 per ton from the end of January. However, some of Japanese steel mills are taking an attitude to check the large price hike by saying they are prepared to switch over to ferro-silicon and high-carbon ferro-manganese if the price of silico manganese surpasses a certain price level.
In the Chinese domestic market, the prices of both high-carbon ferro-manganese and silico manganese dipped from the end of January. At the moment, the foreign exchange market shows the appreciation of yuan, but the offer price for export has come down, and the one meant for Japan has dropped by US$10 - US$15 CIF per ton from the end of January. But, the situation of almost no deal being clinched is going on.