Vietnamese ferrosilicon export market remains inactive

Posted on 2016-06-23

Vietnamese ferrosilicon export market remains inactive

2016-06-23
FOSHAN (HZJSTEEL)  Jun 23 - Sources reported that Vietnamese ferrosilicon export market sees slow buying activities. Currently, prices for ferrosilicon 75%min keep at USD880-900/t FOB Haiphong, unchanged from those of one week ago. As China-Vietnam border is still on strict supervision, tight supply and few deals could be seen in Vietnamese ferrosilicon market. Insiders hold wait-and-see attitudes to the market and think the market would remain inactive in the coming week.

 

A trader in Taiwan confirmed that Vietnamese ferrosilicon export market witnesses slow buying activities. In last week, they purchased about 150t of ferrosilicon 75%min at USD900/t CIF Taiwan through Chinese ports in Guangdong, unchanged from that of two weeks ago. “We used to buy ferrosilicon from Haiphong port but there are few spot materials in Vietnamese market, so we have to turn to other ports to purchase,” said the source.

 

With a regular monthly trading volume of 300t, they made deals of 250t in May, and have made deals of 200t so far this month, having no stocks at hand now.

 

A trader in Vietnam reported that Vietnamese ferrosilicon export market remains dim. Currently, they are watching the market and postpone making offers currently. “It is difficult for us to purchase the material due to the strict supervision on China-Vietnam border,” said the source. He mentioned that there are some goods in small volume could be delivered in China-Vietnam border and the transaction prices for ferrosilicon 75%min are below USD900/t FOB Haiphong, but they just hold wait-and-see attitudes to the market at present.

 

With a regular monthly trading volume of 500t, they have not made any deals since last month, having no stocks at hand now.

 

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2016-06-23
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