Platts reports that Japan's shopping spree for some ferroalloys used to make steel calmed down this week, as traders and steelmakers prepared to face the impact of the Beijing Olympics in August.
Market sources said that spot prices of ferrosilicon imported into Japan from China were up, but the trade has thinned. It said that there were only handful traders seeking massive quantities of more than 1,000 tonne rather than smaller cargoes of 500 tonne or less as they rushed to meet their final purchase requirements before July.Traders did 1,000 tonne deals at USD 2,400 to USD 2,480 per tonne CIF Japan, but showed no interest in 500 tonnes cargoes offered at USD 2,200 per tonne CIF Japan. Traders fear that the Chinese government may restrict shipping activities at the port of Tianjin over July to August and almost all of China's ferrosilicon exports to Japan are loaded at Tianjin, which is close to Beijing.
The loading points for silico-manganese and silicon metal are more evenly spread out throughout China. Meanwhile, Japanese traders said ferrosilicon market would be calmer next week as there were only a handful electric arc furnace operators who consume less than 500 tonnes per month of ferrosilicon looking for supplies in the spot market.
Source: SteelGuru
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