China ferro-silicon price holds; market eyes higher stocks, lower prices
Europe held in price range in stable conditions
US suppliers cut offer prices
Domestic Chinese ferro-silicon trading was relatively active last week although demand is expected to drop in the coming weeks, market participants said. Fastmarkets MB’s Chinese ferro-silicon ex-works price, basis 75% Si held at 7,200-7,400 yuan ($1,044.13-1,073.13) per tonne on Friday December 14.
“The big steel mills’ tender prices did not increase much and inventory levels have started to go up because orders are starting to fall, so prices should be falling,” a major producer said.
Ferro-silicon tender prices from major Chinese steel mills were unchanged in December, but volume sizes were smaller and tenders were announced a week later than usual, indicating slowing demand, Fastmarkets reported earlier.
A key factor buoying the market is potential logistics issues arising from icy winter conditions affecting roads in China. The...