- Export price in China drops on weak buying interest while domestic market tracks trend
- European market under downward pressure
- US FeSi prices firm on small transactions
Weak demand drags down Chinese market
Chinese ferro-silicon prices look vulnerable to persistent losses, with weak demand dominating sentiment and trade in both domestic and export markets.
Fastmarkets assessed the price for ferro-silicon 75% Si min, in-whs China
at 6,000-6,200 yuan ($838-866) per tonne on Wednesday August 28, down by 50-100 yuan per tonne - or 1.2% - from 6,050-6,300 yuan per tonne a week earlier.
Weak demand, in part due to the steel production cuts amid environmental scrutiny in China, has kept Chinese ferro-silicon prices under pressure since the start of August. Buying interest for the ferro-alloy is expected to be weak ahead of national holidays in China in early October, when production disruptions are likely to take place in...