China supported on lower production
Europe drops to 2016 low with more weakness expected
US market holds, weakness may loom ahead
Chinese ferro-silicon prices have been steady in the past week in line with demand from steel mills, sources told Fastmarkets.
“Domestic prices are stable...there has been no sudden change in production,” a producer said. "The market is quite balanced because most of the smaller producers in Inner Mongolia have shut down so there is no oversupply."
Fastmarkets MB's Chinese ferro-silicon ex-works price, basis 75% Si was unchanged at 6,000-6,400 yuan ($893-953) per tonne on Friday March 22.
The Fastmarkets MB Chinese ferro-silicon export price also increased in line with demand, rising almost 1% to $1,160-1,200 per tonne on Friday, compared with $1,150-1,190 per tonne the week prior.
Export offer prices have increased to as much as $1,210-1,220 per tonne fob China, although few bids had been returned. Still, increasing export...