Ferrosilicon offers from Chinese sellers were heard to have narrowed to low amounts.
S&P Global Platts assessed Chinese 75% Si ferrosilicon at $1,025-$1,050/mt FOB China Thursday from $1,025-$1,090/mt the week before.
Platts assessed spot import prices of 75% Si ferrosilicon unchanged from a week ago at $1,000-$1,050/mt CIF Japan Thursday.
Chinese prices were heard to have stabilized at lower levels, with China-based traders offering in a range of $1,040-$1,050/mt, FOB China.
One trader said inquiries had gone up this week, with customers from Mexico, Turkey and India inquiring. The trader added this was less due to China's reduced export tax rate and more to a shortage of Russian material.
Another South Central China-based trader said Chinese offer prices were stable and demand was not good. But he also noted a shortage of Russian material, adding he had heard offers of $800/mt, CIF Asia for lower grade 45% Si ferrosilicon.
Meanwhile, Japan's spot assessment of ferrosilicon imports remained unchanged from a week ago ahead of the April-June buy tenders by electric arc furnace steelmakers.
Offers from Chinese, Malaysian and Russian producers were in a wide range of $1,000-$1,100/mt CIF Japan. Japanese traders reported hearing $950/mt CIF Japan sold to some mills, but Platts has not been able to identify the material's origin.
