- China tracks lower tender purchase prices
- ...but supportive factors seen
- European price range eases
- US market firms while available supply thins
Chinese domestic ferro-silicon prices were lower week on week, in line with tender purchase prices from steel mills for February despite higher operational costs and a steady performance from downstream markets.
Major producer Hebei Steel's latest tender for February was at 7,500 yuan ($1,189) per tonne, about 160 yuan per tonne lower than January, according to sources. Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices
down 100 yuan per tonne from last week to 7,400-8,400 yuan per tonne on Friday February 2.
Still, such bearish market indications were partly offset by some positive factors. The magnesium market, a major consumer of ferro-silicon, has been stable in the past week. Metal Bulletin assessed the magnesium Chinese free market, 99% min...