GLOBAL FERRO-SILICON WRAP: European price at two-year low; Chinese domestic price falls amid low pre-new year trading

In Europe, the ferro-silicon price fell to lows last seen in February 2017 last week on suppliers competing for business from steelmakers keen to push down their feedstock prices amid weakening underlying consumption; while the domestic Chinese market dropped by 2.4% week on week amid quiet business conditions ahead of Lunar New Year.

Chinese domestic and export prices drop  European market falls to two-year low  Top end of US price ticks up Domestic Chinese ferro-silicon prices fell 2.4% in the week ended Friday February 1 due to continued weak demand. “We are not selling until after the Chinese New Year,” a trader said. Most Chinese market participants are now away for the national Lunar New Year holiday on February 4-10, while many completed stockpiling for the week-long holiday in recent weeks. Fastmarkets MB assessed Chinese ferro-silicon ex-works price, basis 75% Si at 6,100-6,300 yuan ($904-934) on Friday, down from 6,300-6,400 yuan per tonne the week before. In response to softening prices, some smaller producers have shut down their operations or were reported to be doing plant maintenance for an unspecified length of time. This is likely to support a recovery in prices after buyers return from the holiday, a producer source said. “Those...

Published

Declan Conway

Karen Ng

Jon Stibbs

February 04, 2019

15:17 GMT

Galway, Singapore, London