In Europe, prices increased for the first time since the start of August amid supply worries after a recent announcement of cuts to domestic production combined with low trader stocks to prompt buying interest.
- Tight supply underpins Chinese prices
- Chinese export market stable despite quiet activity
- Europe picks up on tighter supplies, seen heading higher
- US market flat on inactivity
China market stable despite muted business
Chinese domestic ferro-silicon prices were steady last week amid tight supply of standard grade ferro-silicon (75% Si), which has persisted since late September.
Chinese smelters have cut production of standard grade material in response to lingering weak demand in both the domestic and export markets, leading to the tighter spot availability. As a result, suppliers have been reluctant to reduce their spot offer prices despite low levels of buying interest after China’s National Day holiday in early October.
Fastmarkets’ price assessment for ferro-silicon...