European suppliers hold offer prices
European demand slower than usual, more Q4 business expected
US market maintains range, still awaiting end of year business
European market pauses, awaits new business
In Europe, the spot market has been steady in the past week after dropping to a low last seen in August 2016 the week before. Suppliers have held their offer prices and will wait for further developments in the longer-term delivery market for contract business shipped between October and December. One quarterly deal for around 500 tonnes of standard grade ferro-silicon was settled to a German steelmaker for €885 per tonne delivered, sources said.
Fastmarkets assessed the price of ferro-silicon, lumpy, basis 75% Si (scale pro rata), delivered Europe at €900-920 ($988-1,010) per tonne on Friday, steady week on week.
The last time the European spot ferro-silicon price was below €900 per tonne was in April...