European market pares gains as demand fades
Chinese domestic alloys prices held;
Chinese export market stagnant;
US market holds absent trading activity
Europe pares gains as demand fades
The European ferro-silicon market has moved down over the past week, paring earlier gains as brief buying interest from consumers has petered out and suppliers have cut their offer prices as a result.
Fastmarkets assessed the price of ferro-silicon, lumpy, basis 75% Si (scale pro rata), delivered Europe at €900-920 ($1,001-1,023) per tonne on October 25, down €20 from a week earlier.
Despite recent market reports of export offers to the European Union from Kazakhstan no firm deals have been done, traders said. Apparently suppliers of ferro-silicon from Kazakhstan are wary about offering material too readily that may cut prices in Europe to below €900 per tonne and instead they are opting to wait until European steelmakers fully reveal their buying needs...