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Chinese market awaits new steel mill tenders
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Chinese domestic ferro-silicon prices have been steady in the week to Friday January 26, with dealers awaiting market direction from steel mill tender purchase prices for February. Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices at 7,500-8,500 yuan ($1,187-1,345) per tonne on Friday, in line with the previous assessment.
The resilience of the magnesium market at the end of seasonal restocking for Chinese New Year (February 16) has supported ferro-silicon prices. Metal Bulletin assessed Chinese free market magnesium, 99% min, ex-works prices at 15,000-15,300 yuan per tonne on January 26, up 3.1% from the week before.
Ferro-silicon is used in the production of magnesium, so strength in the magnesium market has propped up upstream ferro-silicon...