Chinese major suppliers cut production prompting higher offer prices
Chinese export price diverged by falling due to low downstream demand
Europe spot price dropped after some Q4 deals were settled at lower levels
China domestic price ticks higher but exports weaker
The Chinese domestic spot ferro-silicon market climbed slightly on tighter supply from major producers, who reacted to weak demand by cutting output of 75% silicon grade material.
Fastmarkets’ ferro-silicon 75% Si min, in-whs China price rose by 0.4% to 5,950-6,000 yuan ($835-842) per tonne on Wednesday, up 50 yuan per tonne on the low end from a week before.
Spot supplies in China have been dropping because smelters have switched to making more ferro-silicon with 72% silicon content, the typical feedstock grade for Chinese steel mills.
“Smelters have broadly changed their proportion of ferro-silicon output in favor of 72% silicon content grade over 75% silicon...