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| Price Of Chinese Silicon Metal For Export Has Risen To US$2,300 / Ton CIF Japan |
| = A Trigger For This Rise Is Suspicion Of Duty Evasion By Exporters In Amoy District |
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The price of Chinese silicon metal for export has suddenly risen substantially. Shippers offered on the end of last week Chinese silicon metal at US$2,300 per metric ton CIF Japan. A suspicion, which exporters in Amoy district of Fujian province applied for illegal export declaration with an aim to evade the duty on export of silicon metal (undervalued), has come up to the surface and the exporters concerned have been investigated by customs-office. Many shippers are the objective companies for this investigation but have been not specified yet. However, it was said that top executives of major shippers already ran away to overseas countries. Amoy district is a main base to export Chinese silicon metal and exporters in this district have been engaged in the work to process silicon metal. Accordingly, a possibility to delay actual deliveries of the cargoes may arise. Also, having felt a repugnance for this investigation by the authorities concerned, some companies are leaving from the business to export silicon metal. In order to conform with the specifications of silicon metal for export (to use for production of aluminum alloys or to use for production of chemicals), these exporters have been operating their plants for processing. The main work at plant is to crush silicon metal to the sizes as specified by means of using magnet separator to remove Fe (iron) contained in silicon metal. Therefore, the function to process silicon metal for export as its final stage has stopped or sunk. The price of Chinese silicon metal with 5.5.3 grade for export offered on the end of last week had risen to US$2,300 per metric ton CIF Japan, which is compared with US$2,100 - 2,150 CIF offered in an early part of August, when the problem of duty evasion was not so serious. It was informed from a previous time that the supply situation of silicon metal in China has become tight, but price of Chinese silicon metal was so far unable to turn to a rise, because the inquiries for Chinese silicon metal from Japan had been sluggish. On the stage, which the problem of duty evasion on export of Chinese silicon metal has become serious, price of this metal has suddenly turned to rise. The investigation on duty evasion by the authorities concerned is anticipated to continue for a long period and, therefore, how to move hereafter price of Chinese silicon metal is opaque. |
| last modified : Fri 03 Sep, 2010 [10:37] |
