In Europe, the market extended its steady trend into a third week in a row, but losses were looming amid an expectation of weaker settlements for deliveries in the fourth quarter.
China falls to new low
- China domestic price weakens ahead of September tenders
- China export price tracks lower to match rivals
- Europe pauses as Q4 deals are negotiated
- …But signs suggest that losses are imminent
- US ferro-silicon prices flat amid lack of consumer interest.
Chinese ferro-silicon prices extended their current downtrend over the past week, with suppliers cutting their offer prices to encourage buying interest with demand at low levels ahead of the publication of September tenders for alloy from steelmakers such as Hesteel, the second-biggest producer in China.
Fastmarkets assessed the price for ferro-silicon, 75% Si min, in-whs China, at 5,900-6,000 yuan ($830-844) per tonne on September 4, down by 2.5% from 6,000-6,200 yuan per tonne a week...