China market pares gains as supply outweighs demand
Europe flat, suppliers hold offers
US prices slip in sluggish spot market
Domestic prices dropped last week due to weak demand amid high inventory levels at refineries, a trader told Fastmarkets. As a result, producers cut their offer prices to encourage buying interest.
Fastmarkets MB’s Chinese ferro-silicon ex-works price, basis 75% Si fell to 5,900-6,100 yuan ($879-909) per tonne on Friday from 6,200-6,500 yuan per tonne the week prior.
“Ferro-silicon production in Inner Mongolia has not been much affected by restrictions on electricity that has been imposed in other regions,” a Chinese ferro-silicon producer said.
“Operational rates are still at a comparatively high level and the plentiful supply has weighed on the domestic market, while demand is weak," the producer added.
The lower price of 72% ferro-silicon, the stock of which...