China sees renewed consumer demand amid reported lower ferro-silicon stock levels
Europe eyes first-quarter settlements for direction
China market bounces amid renewed demand
Domestic Chinese ferro-silicon prices increased last week after cargoes were actively traded, reversing weeks of slow activity and declining prices. Fastmarkets MB’s Chinese ferro-silicon ex-works price, basis 75% Si increased by 200-300 yuan to 6,800-7,000 yuan ($978.80-1,007.59) per tonne on Friday.
According to one major ferro-silicon producer, the stronger domestic market was due mostly to low stock levels at ferro-silicon refineries.
“Spot supply is tight and some consumers have started to stockpile more cargoes for production in the Christmas and New Year holidays,” another producer said, adding that a domestic price rally in downstream magnesium prices has cemented increased ferro-silicon prices. “The consensus now is that December steel mill tender prices will be higher than in November,” he said.
Downstream magnesium, one of the biggest consumers...