In Europe, spot ferro-silicon prices have pared losses against tighter availability, although the bounce may be limited given subdued buying interest from steelmakers.
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.
China readies for weaker market conditions
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 August 5, an 8.3% drop from...