But losses resumed in the European market resumed losses after prices had been stable in the previous week.
China market up 0.4% on supply tightness and better demand
Europe market has been weakening again
US price unchanged around national holiday
China market drifts higher in response to higher tender prices
Fastmarkets assessed the price of ferro-silicon 75% Si min, in-whs China at 6,400-6,500 yuan ($928.3-942.8) per tonne, widening upwards on tighter supply amid healthy demand from steel mills.
Market sentiment has continued to improve on news that major steel mills have raised their monthly purchase prices, which offset the weak performance of China’s magnesium sector.
Hebei Steel raised its July purchase price for ferro-silicon basis 72% to 6,450 yuan per tonne, up by 280 yuan from June. The price includes delivery and acceptable payment terms. The increase reflects tight market availability, some sources told Fastmarkets.