China FeSi prices down again but increase likely in May

The Chinese ferro-silicon market continued to soften in the week to Wednesday April 22 after producers lowered their offers to attract interest from both domestic and foreign consumers, while prices are likely to rise on higher production costs in the near future, market participants said.

Fastmarkets’ weekly price assessment for ferro-silicon 75% Si min, in-whs China was 5,400-5,600 yuan ($762-791) per tonne on Wednesday, with the lower end widening downward by 100 yuan from 5,500-5,600 yuan per tonne a week earlier.
“Some producers lowered their prices further to destock, while cash pressure mounted on smelters and traders as the end of the month approaches,” a trader said.
The domestic ferro-silicon price range declined sharply in the previous week following lower monthly tender prices for 72-grade alloy from major steel mills and sluggish demand from the magnesium sector.

Fastmarkets assessed the price of magnesium 99%, exw China at 13,000-13,100 yuan per tonne on April 17, widening upward by 100 yuan...

Published

Siyi Liu

April 23, 2020

10:22 GMT

Shanghai