Asian ferrosilicon prices rally on Chinese export tax, tight supply

摘要

S&P Global Platts assessed the Chinese 75% Si ferrosilicon export price at $1,500-$1,550/mt FOB China on May 11, up from $1,420-$1,460/mt on May 4, with the Japanese import price for 75% grade ferrosilicon also higher at $1,530-$1,580/mt CIF Japan, compared with $1,440-$1,470/ mt CIF last week. Offers for Chinese cargoes surged this week as China returned from a week-long holiday over May 1-5 for Labour Day celebrations, after the recent revision of ferrosilicon export tax to 25% from 20% took effect beginning May 1, sources said.