GLOBAL FERRO-SILICON WRAP: Chinese prices cement support; European market stirs at last

Ferro-silicon prices in China were steady in the week ended Friday June 14 with the release of a largely unchanged benchmark tender price, firm futures and tighter availability for prompt material providing support.

In Europe, the market has stirred into life after several weeks of inaction amid quarterly tender talks, while the US market softened after coming under pressure from weakness in global markets. Chinese market cements support Europe price shifts after long Q2 drift US prices decline under pressure from weak global markets Chinese market supported China’s ferro-silicon market was stable last week amid improved sentiment after domestic mill Hebei Steel kept its latest monthly purchase price largely unchanged from its previous tender, while a strong performance by ferro-silicon futures in China further buoyed the market. Fastmarkets assessed the spot price for ferro-silicon, basis 75% silicon, in China at 5,900-6,100 ($852-881) yuan per tonne on June 14, unchanged for a fifth consecutive week. Hebei Steel has agreed to buy ferro-silicon at 6,170 yuan per tonne for June delivery after suppliers rejected an initial offering price of 6,100 yuan per tonne, citing that the initial offer was...

Published

Chris Kavanagh

Declan Conway

Huaqing Fu

June 18, 2019

08:40 GMT

Galway, New York, Shanghai