Europe marks new low for 2019
Market under further pressure
China prices rolled over
US market flat on inactivity.
European market under pressure
The downward trend in European ferro-silicon prices has persisted over the past week, with traders reducing their offer prices while producers tried to hold their offers at more than €1,100 ($1,233) per tonne delivered.
But that producer price offer appears likely to come under pressure in the near term, with traders’ offer prices about €50 per tonne below that level on an inter-merchant basis, sources said.
Moreover, some consumers in the steel sector have been buying quarterly delivery shipments at prices of less than €1,100 per tonne delivered. And there have been deals done into Europe from Asia, with offers also reported from Egypt and Brazil.
Fastmarkets’ price assessment for ferro-silicon, lumpy, basis 75% silicon, imported into major European destinations, dropped by €10 per tonne to €1,060-1,120 per tonne on Friday...