In Europe, spot ferro-silicon prices have pared losses against tighter availability, although the bounce may be limited given subdued buying interest from steelmakers.
China readies for weaker market conditions
- Chinese market prepares for price losses while steelmakers show resistance to offer prices.
- European market stages small recovery.
- European price gains may be limited amid slow steel sector.
- US ferro-silicon prices flat.
The domestic Chinese ferro-silicon price was flat week on week, but market participants are expecting a downturn given falling futures prices and buyers’ resistance to high prices.
Fastmarkets assessed the price of ferro-silicon 75% Si min, in-whs China
at 6,500-6,700 yuan ($927-955) per tonne on Wednesday July 31, unchanged from a week earlier.
In the futures market, the price of ferro-silicon on the Zhengzhou Commodity Exchange (ZCE) has slumped in recent weeks; the most-traded September ferro-silicon contract price on ZCE closed at 5,900 yuan per tonne on...