Steelmakers were already rolling over quarterly settlements into the third quarter from the current quarter, suggesting quieter demand and further downward pressure on spot prices in the coming months, trade sources said.
Fastmarkets’ price assessment for ferro-silicon lumpy basis 75% Si (scale pro rata), delivered Europe
fell to €990-1,050 ($1,071-1,136) per tonne on Friday May 15, down by 8.9% compared with €1,070-1,170 per tonne week on week. The market is at a new annual low and its lowest level since November 2019 when the price range was at €950-1,000 per tonne.
"We're not below €1,000 per tonne yet, but we will be next...