SHANGHAI, Jul. 20 (SMM) – Some steel mills in south China launched bidding negotiation for Si-Mg alloy in August ahead of schedule this week. Silicon traders gave firm offers in response to positive demand and high manganese ore price with prices to factory mainly at 7,300-7,500 yuan per tonne (including tax) by acceptance.
Early this week, one large steel group in Jiangsu gave price to factory of Si-Mg alloy at 7,200-7,300 yuan per tonne (including tax) by acceptance in August, up 450-500 yuan per tonne from July’s level. Nanjing Steel Group also raised purchase price by 570 yuan per tonne to 7,260 yuan per tonne (including tax) by acceptance in the month. A 500 yuan per tonne growth in Si-Mg price is more acceptable by steel mills, and they will not compromise at higher prices.
Steel mills in middle China also started biddings. Buyers and sellers had intense price struggle. Steel mills tended to buy goods at 7,200 yuan per tonne, while some large traders gave offers at 7,400 yuan per tonne (including tax) by acceptance due to low inventory and optimistic outlook on raw material price, and held back sales at low prices.
Market participants expect 7,300 yuan per tonne to be a reasonable traded price, and the purchase volume will be decided by payment clause, symbiosis and inventory held by traders.
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