With main steel mills published purchase price through April, FeSi market trended to be stable in China. FeSi purchase price dropped by RMB100-200/mt compared with March. Main purchase price of FeSi 72# was RMB6,500-6,600/mt(factory price include taxes) and it’s estimated that FeSi purchase price would be in this range.
In early April, FeSi export price remained stable. Export price of FeSi 75# was USD1,400-1,430/mt FOB and 72# was USD1,380-1,400/mt FOB. FeSi price dropped slightly in America and it’s ￠93.5-96/1b. FeSi price rose to €1,150-1,180/mt in Europe and it’s about USD1,440-1,450/mt CIF in Japan. There were still FeSi products with USD1,300/mt imported from Vietnam.
Most steel mills decreased purchase amounts which reflected weak steel market. It’s a sign that ferroalloy market would run weakly in April.