Spot prices for 75%-Si ferrosilicon in Asia were steady this week as offers from Chinese sellers remained supported by strong demand and supply tightness in the domestic market.
Platts assessed the Chinese export price at $1,460-1,480/mt FOB China and the Japanese import price at $1,480-1,500/mt CIF Japan Thursday, both unchanged from the previous week.
No deals could be confirmed this week. Offers from China were heard at $1,480-1,520/mt FOB this week. There were no price indications from Japan as most companies there are closed over January 1-3 for New Year holidays.
Most Chinese sources said they see prices remaining well-supported until the end of the month before the start of the Lunar New Year holidays on January 31.
"Domestic demand is still good. Steelmakers are still buying for winter production," an official with a producer in Qinghai province said.
The strong domestic demand had resulted in limited supply available for the spot export market as major producers in the country are focused on supplying to domestic steelmakers, according to sources.
Ferrosilicon traded at Tianjin port at Yuan 7,000-7,100/mt ($1,146-1,162/mt) Thursday, unchanged week on week.
