Due to a shortage of ferrosilicon material originating from Russia, traders from various countries such as Turkey, India and Mexico have increased inquiries of ferrosilicon originating from China. According to sources, Mexican traders have received preliminary offers for 75 percent Si ferrosilicon at $1,000-1,050/mt FOB China or approximately $1,030-1,080/mt CIF Mexico.
As of January 1, 2017, China reduced its export tax on ferrosilicon, ferrochrome and ferrovanadium by 5 percent from 25 percent making the new effective tax rate 20 percent.
The four main producers of ferrosilicon are China (at approximately 8 times greater volume than the next producer), Russia, US and Norway. The next group of producers after the top four are Brazil and France.
The four main producers of ferrosilicon are China (at approximately 8 times greater volume than the next producer), Russia, US and Norway. The next group of producers after the top four are Brazil and France.
Generally, according to sources, incoming offers from a variety of countries are being heard at $1000-1100/mt CIF Mexico, though, SteelOrbis could not determine a price listing for the various countries of origin at this time.