The Chinese are now exporting more alloys as they can still make a profit. Current export price for FeSi is US$1,750/tonne FOB. The Chinese have also moved into the USA market where they have sold 8,200 tonnes in May. Total Chinese FeSi exports for May were 76,000+ tonnes.
The Chinese would be making very little at these prices given the 25% export tax whilst OM Sarawak would still be making US$700/tonne, although OMH has been undercutting Chinese ferrosilicon prices to keep up sales.
The Chinese are now exporting more alloys as they can still make...
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