In Europe, however, the ferro-silicon market was steady after recording a small bounce in the prior week after suppliers held their offer prices ahead of expected uptick in demand.
- Chinese market prepares for further losses
- Europe awaits return of steelmakers
- US market tumbles amid renewed activity
Chinese ferro-silicon price falls on weak demand
Fastmarkets’ price assessment for ferro-silicon 75% Si min, in-whs China
stood at 6,200-6,400 yuan ($885-906) per tonne on Wednesday August 7, down by 300 yuan per tonne, or 4.5%, from 6,500-6,700 yuan per tonne a week earlier.
The price decline had been expected given the market’s weakened fundamentals, sources told Fastmarkets.
“There wasn’t strong support for high prices a few weeks ago [when the market was running higher]," a trader in China said.
The price of ferro-silicon in China spiked higher toward the end of June, rising from 5,900-6,100 yuan...