GLOBAL FERRO-SILICON WRAP: Chinese market garners futures support; European market falls almost 6%

Ferro-silicon prices in China were stable in the week ended Friday June 21, extending a steady run in the market for a fifth consecutive week against firm Chinese futures prices and relatively limited availability in the physical market.

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. China extends steady trend European market falls about 6%, further losses seen US prices flat in inactive spot market Tightness, futures market underpin China prices 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 June 21, up by 0.6% from a close of...

Published

Chris Kavanagh

Declan Conway

Huaqing Fu

June 25, 2019

04:04 GMT

Galway, New York, Shanghai