Spot trades for 75%-Si ferrosilicon in Asia were thin on the ground this week due to their being several holidays in the region, while offers generally remained steady, industry sources said Thursday.
Japan was closed Tuesday to Thursday, while South Korea was closed Thursday with Friday also a holiday there.
Chinese 75% Si ferrosilicon price was assessed unchanged week on week at $1,010-$1,050/mt FOB China Thursday, as most indications were heard within the range.
A northwest China-based end-user heard offers at $1,030/mt, a south China-based trader heard $1,000-$1,030/mt, a northwest China-based trader indicated $1,060/mt, while another northwest China-based trader indicated around $1,100/mt.
"Our FOB offers are at $1,060/mt but I am hearing market indications around $1,040/mt. We cannot lower our offers due to high costs. We have inquiries from Iran but nothing done," said the first northwestern Chinese trader, who also indicated domestic offers at Yuan 4,800/mt ($738/mt), delivered to ports at Lianyungang, Qingdao and Tianjin.
The second northwestern Chinese trader said his offers around $1,100/mt were on the high side and he had done nothing at the level. "I am hearing most market indications at $1,040-$1,060/mt but I believe that nothing is done at this level either as the overseas demand is very lacking," the trader said.
The southern Chinese trader said he had heard there were limited Chinese stocks in Vietnam due to strict Chinese customs checks over ferrosilicon being imported into Vietnam without the compulsory 25% export tax.
Offers for Chinese ferrosilicon on FOB Vietnam basis were last heard in a an $800-$900/mt range.
