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 northern parts of...