GLOBAL FERRO-SILICON WRAP: Weak fundamentals cut Chinese prices; Europe stabilizes losses

The Chinese domestic ferro-silicon price fell again in the week ended Friday May 10 under the weight of plentiful supplies and weaker monthly tender prices, while the European market was steady for the second consecutive week, although downward pressure looms ahead of the traditionally slower summer months.

Chinese market buckles under weight of supply but support seen in upstream prices  European support may only be temporary  US market flat in quiet market Chinese market drops on supply, tender prices Chinese ferro-silicon prices dropped in the past week, pressured by ample stocks and lower tender prices in May from the month before due to domestic steel market weakness. But some dealers suggested the increase in upstream materials prices are be likely to limit price losses in ferro-silicon. Fastmarkets assessed the Chinese domestic spot ferro-silicon (basis 75% silicon) price at 5,900-6,300 yuan ($859-917) per tonne on Friday, compared with 6,000-6,300 yuan per tonne a week earlier. In the past week some ferro-silicon producers in China have cut their selling prices in line with lower monthly tender prices for May from steel mills. Major producer Hebei Steel’s latest tender for May was at 6,220 yuan per tonne, down...

Published

Chris Kavanagh

Declan Conway

Huaqing Fu

May 14, 2019

10:31 GMT

Galway, New York, Shanghai