In Europe, the market has fallen due to weak spot demand and an increasing number of quarterly deals done below €1,000 ($1,139) per tonne, which has dragged down agreed prices for prompt business.
Tightness, futures market underpin China prices
- China extends steady trend
- European market falls about 6%, further losses seen
- US prices flat in inactive spot market
Chinese spot ferro-silicon prices were steady last week amid fairly tight prompt supply and a small increase in an already firm futures market.
China’s spot price for ferro-silicon, basis 75% silicon
, stood at 5,900-6,100 yuan ($858-887) per tonne on June 21, according to Fastmarkets' latest assessment, unchanged for a consecutive fifth week.
Cementing support in domestic physical ferro-silicon prices was a small strengthening in the Chinese futures market. The most-traded September ferro-silicon futures price on the Zhengzhou Commodity Exchange (ZCE) closed at 6,098 yuan per tonne on...