Due to the low demand, the prevailing price of ferrophosphorous 23% decreases a little bit to USD670-690/kg depending on the quality. However, there is no sign of recovery for the demand in the near future.
A Yunnan-based smelter disclosed to Asian Metal that they decreased their offer from USD700/t to USD680-690/t for ferrophosphorous 23-25%, Ti1% in September due to the slack market. The source insisted on offering USD700/t in August though the demand was weak, but finally made the concession under the pressure of poor demand. "The market remains slack, so it is normal to see some price decreases," said the source.
A major exporter in Guizhou also confirmed the price decrease of ferrophosphorous, and he lowered the offer of ferrophosphorous 25% Ti0.5% to USD690/t from USD700/t last weekend. "The market sees no momentum at all, so we can do nothing to keep the price at the previous level," lamented the source. The source also holds some ferrophosphorous in warehouse Rotterdam and is willing to sell.
Meanwhile, a smelter in Hubei offered USD680/t for ferrophosphorous 23%, Ti 1% to a buyer, and has been waiting for the reply at press time.
However, a trader in Yunnan indicated that as the raining season will end soon, buyers would have to replenish their stocks before the dry season comes. Therefore, the price will not decrease much. The source offered USD700/t FOB CMP for ferrophosphorous 25% Ti1-2%, but he admitted that the workable price is at USD680-690/t.
"I prefer to watch the market for a while, because I believe the market would not remain weak all the time," said the source.
A Yunnan-based smelter disclosed to Asian Metal that they decreased their offer from USD700/t to USD680-690/t for ferrophosphorous 23-25%, Ti1% in September due to the slack market. The source insisted on offering USD700/t in August though the demand was weak, but finally made the concession under the pressure of poor demand. "The market remains slack, so it is normal to see some price decreases," said the source.
A major exporter in Guizhou also confirmed the price decrease of ferrophosphorous, and he lowered the offer of ferrophosphorous 25% Ti0.5% to USD690/t from USD700/t last weekend. "The market sees no momentum at all, so we can do nothing to keep the price at the previous level," lamented the source. The source also holds some ferrophosphorous in warehouse Rotterdam and is willing to sell.
Meanwhile, a smelter in Hubei offered USD680/t for ferrophosphorous 23%, Ti 1% to a buyer, and has been waiting for the reply at press time.
However, a trader in Yunnan indicated that as the raining season will end soon, buyers would have to replenish their stocks before the dry season comes. Therefore, the price will not decrease much. The source offered USD700/t FOB CMP for ferrophosphorous 25% Ti1-2%, but he admitted that the workable price is at USD680-690/t.
"I prefer to watch the market for a while, because I believe the market would not remain weak all the time," said the source.
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