GLOBAL FERRO-SILICON WRAP: Chinese market falls on stagnant demand despite supply tightness; European price weakens

The domestic Chinese ferro-silicon price fell by 2.3% week on week on Friday July 12 despite tighter supply, while the European market continued to fall on slow downstream demand.

Chinese domestic market dropped 2.3% while the export price was unchanged.  Europe market fell by 1.3% on thin demand and reduced offers in the market.  US prices were unchanged with a few deals concluded within the range The Chinese domestic ferro-silicon price consolidated midweek last week amid comparatively weak downstream prices, and a stagnant export market The domestic Chinese ferro-silicon price had risen quickly since mid-June against a backdrop of tightened supply as a result of plant maintenance in major production hubs, including Ningxia Province. But a disappointing downstream magnesium price and a stagnant export market became obstacles to the upswing. Fastmarkets’ ferro-silicon 75% Si min, in-whs China price dropped to 6,200-6,400 yuan ($901-930) per tonne on Wednesday July 10, compared with 6,400-6,500 yuan per tonne on July 5, when the alloy price hit this year’s high. Magnesium smelters, one of the major...

Published

Susan Zou

Jon Stibbs

Cristina Belda

July 15, 2019

17:47 GMT

London, Shanghai