Silicon Metal Export Prices Increase on Surging RMB Exchange Rate-Shanghai Metals Market

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Silicon Metal Export Prices Increase on Surging RMB Exchange Rate

SMM Insight 05:56:54PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – The easing measures introduced in major economies left liquidity ample in global markets. Meanwhile, China’s promising economic prospect attracted large amount of investments, driving the RMB to appreciate against the USD.

The RMB exchange rate kept hitting new highs during the past four trading days. Profits for domestic silicon metal exporters were squeezed by surging RMB exchange rate, so exporters raised FOB prices for silicon metal to ease the pressure caused by the stronger RMB.
 

Silicon Metal Export Prices Increase on Surging RMB Exchange Rate

SMM Insight 05:56:54PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – The easing measures introduced in major economies left liquidity ample in global markets. Meanwhile, China’s promising economic prospect attracted large amount of investments, driving the RMB to appreciate against the USD.

The RMB exchange rate kept hitting new highs during the past four trading days. Profits for domestic silicon metal exporters were squeezed by surging RMB exchange rate, so exporters raised FOB prices for silicon metal to ease the pressure caused by the stronger RMB.