China ferro-silicon market stable ahead of new tenders due before a public holiday next week
But Chinese fundamentals look weaker after the holiday
European price stable; tenders expected as late as October
US market unexpectedly slow
China establishes holding pattern
The majority of ferro-silicon smelters in China held their offer prices unchanged in the week to Friday September 20 amid traditional stockpiling demand among consumers who are preparing feedstocks for their operations during the China National holiday (October 1-7), and ahead of the expected release of October alloys tender prices.
Fastmarkets assessed the price for ferro-silicon, 75% Si min, in-whs China at 5,900-6,000 yuan ($832-846) per tonne on Wednesday.
“Consumers have to top up their inventories of feed for steel production during the national holiday,” a trader said, adding that high logistics cost before and during the week-long holiday should encourage smelters to firm their offer prices....