China offers for 75% Si ferrosilicon were unchanged week on week at high levels, but sources said prices outside China are still going up on tight supply.
S&P Global Platts kept the Chinese 75% Si ferrosilicon assessment at $1,250-$1,300/mt FOB China Thursday, unchanged on the week, with traders reporting that no international trades were done at such levels.
One major steel mill buyer said that he had settled his December monthly tender at Yuan 6,200/mt, delivery to plant.
Producers in China have previously said they no longer offer outside China as with China's 25% export tax on ferrosilicon, on top of 17% value-added for all domestic goods, this makes Chinese ferrosilicon too expensive for export markets.
Japan's ferrosilicon import prices were assessed at $1,200-$1,250/mt CIF Japan Thursday, up from $1,150-$1,200/mt CIF Japan a week earlier as supplies tightened. Russian producers have raised offers to $1,200-$1,250/mt CIF Japan this week, by over $50 from a week earlier, Japanese traders said. Producers could not be reached for comment. One Japanese trader said some buyers were told February-March shipments from Russia were no longer available, while another Japanese trader said he was able to secure an offer for January loading. Malaysian material was heard to be offered at $1,130-$1,180/mt, CIF Asia as well.
A Malaysian producer said that he had done a deal for two, 200-mt lots of 72% Si material at $1,140-$1,150/mt, CIF Vietnam on prompt delivery of two weeks.
Earlier, one producer said he reckoned prices were also rising due to a significant drop in the supply of cheaper, illegally exported Chinese material.
