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| Market Tendency On Imports Of Ferro-Alloys At 27th December 2007 |
| = Raises Of Duties On Exports Of Chinese Ferro-Alloys Cause To Rise Further Prices For Exports |
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The market tendency by item on imports of ferro-alloys into Japan at the 27th December of 2007 is as follows ; <> General view = The Central Government of China announced to revise extensively the duties on exports of ferro-alloys, effective from the 1st January of 2008, and has raised these duties. In consequence of this announcement, prices of ferro-alloys to be offered by Chinese suppliers for exports will be pushed up further. The revisions of export duties enforced from November of 2006 by the Government were a great surprise for the parties concerned and, therefore, many troubles occurred on imports of ferro-alloys into Japan but. owing to the fact which the case in this time was leaked out in advance, some prices of Chinese ferro-alloys offered for exports have already included these raises of export duties. However, the duty on exports of Chinese silicon metal was so far nil to protect this production but is newly imposed from January of 2008 to abandon the policy for protection and this sudden and new imposition of export duty on Chinese silicon metal will become a factor to trouble price of this metal for shipments in January - March quarter of 2008. <> Ferro-silicon = An information, which the Central Government of China will raise the duty on exports of ferro-silicon, has been spread over the market from November of this year and, accordingly, Chinese shippers offered ferro-silicon at the price, including a raise of export duty ( US$1,000 per ton CIF Japan ) but, at the stage which the duty raises by 5%, the price of Chinese ferro-silicon to be offered for shipments in January of 2008 and afterwards is thought to be risen by US$50 per ton to cover a raise of export duty. <> Silico-manganese = Chinese producers of ferro-alloys once opposed to a raise of the duty on exports of silico-manganese but have now resigned themselves to the raised export duty from January of 2008 and it was informed in mid December of this year that Chairman of China Ferro-Alloys Producers Association said that the duties on exports of ferro-alloys from China will be raised from January of next year. The price of silico-manganese offered by Chinese shippers in the middle of December was US$1,600 per ton CIF Japan, having supposedly included a raise of export duty. However, there is a big probability that price of Chinese silico-manganese to be newly offered after the beginning of new year will certainly come to a level, including a raise of export duty, which is thought to reach US$1,700 - 1,750 per ton CIF Japan. <> Charge chrome = The price of South African charge chrome for shipments to Europe in January - March quarter of 2008 has been settled in an earlier time in comparison with marathon negotiations taken place in the past years. A rise of 21 US-Cents per lb. for charge chrome is the largest extent risen in its history but the quantities of charge chrome stocked at warehouses in Rotterdam, on which European mills have relied, have continued to be thin and, consequently, a margin to have further negotiations with South African producers is scarce. A major stainless steel company in Japan said that the negotiations with South African producers on price of charge chrome for shipments to Japan in January - March quarter will be settled in the beginning of new year. Steel mills of Japan intends to ascertain the situation of ferro-chrome in China. <> Low carbon ferro-chrome = The price of low carbon ferro-chrome with carbon 0.1% max. for shipments in January - March quarter of 2008 has been settled with regular consumers in Japan by some of Russian producers at 220 US-Cents per lb. CIF Japan but part of shippers, being stimulated by a bullish mood of price for low carbon ferro-chrome prevailing in Europe, are concluding their contracts at 239 - 245 US-Cents per lb. CIF. A tendency on price of low carbon ferro-chrome is rarely in the state to be uneven as a remarkable phenomenon. The price of low carbon ferro-chrome in Europe has risen to a level of 250 US-Cents per lb. for carbon 0.1% max. material and the current price of this ferro-alloy in Japan has been felt as having caught up this price level in Europe. <> Manganese metal = While price of Chinese electrolytic manganese metal has continued to fall, the duty on exports of this metal has been raised by 5% and this raise of export duty is examined a possibility to become a factor to improve a weak tone of price for electrolytic manganese metal. There is a big probability that price of Chinese electrolytic manganese metal to be offered in the beginning of new year will have a rise of US$100 - 150 per ton. <> Silicon metal = New imposition of the duty on exports of Chinese silicon metal is a great surprise for the parties concerned and Chinese producers have been shaken by this new imposition of export duty. Even aluminum alloy plants of Japan, which have just concluded their contracts on purchases of Chinese silicon metal for shipments in January - March quarter of 2008, have taken an anxiety for the duty to be imposed newly on exports of Chinese silicon metal. The prices of Chinese silicon metal settled with Japanese alloy plants for shipments in January - March quarter have been settled on higher levels than US$1,750 per ton CIF with a rise but these prices do not include a factor to impose newly the duty on exports of silicon metal. It is marked to see how many quantity of silicon metal was exported from China in December of this year. <> Molybdenum and Vanadium = The duties on exports of both products of molybdenum and vanadium have raised but, in view of the fact that 2007 is coming to an end, it is hard to grasp exact prices of molybdenum and vanadium products to be newly offered from Chinese side. |
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| last modified : Wed 09 Jan, 2008 [10:40] |
