Steel mills were about to purchase ferrosilicon for August deliveries through opening bidding in late July. Ferrosilicon producers were intensely concerned about the purchase price of FeSi for August deliveries. According to Chinese Ministry of Commerce, steel product price rose 0.3% from the previous week and steel price kept rising through July, which served as a driving force for ferrosilicon price. TISCO was the first to release procurement price of its August ferrosilicon, which was RMB6,010/mt (USD980/mt, export duty not included), delivered price by half acceptance, a reduction of RMB30/mt (USD5/mt, export duty not excluded) on the July purchase price. As the great majority of steel mills had not started biddings and suspended production prevailed in ferrosilicon industry, ferrosilicon price was predicted to remain stable. At present export market of ferrosilicon was still depressed, with FeSi75# quoted at USD1,370-1,380/mt,FeSi72# at USD1,350-1,360/mt and FeSi65# at USD1,250-1,260/mt, FOB at Tianjin Port.
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Steel Mills'Bidding for August FeSi Would Arrive FeSi Price Likely to Stabilize
Source： Time：2013-07-29 08:45:35 views：
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