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.
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Published

Susan Zou

Jon Stibbs

Cristina Belda

July 15, 2019

17:47 GMT

London, Shanghai