Elsewhere, silico-manganese export prices have also been dropping in India, where recent restarts in production may be short-lived while producers consider cuts to stem or even reverse price losses, Fastmarkets heard.
In Europe, the ferro-silicon market has been hit with fresh price losses in the week to May 29 after briefly stabilizing the previous week. Ferro-silicon traders and producers were forced to cut their offer prices again because of persistently weak demand from steelmakers, with market producers expecting more losses in the coming weeks due to the seasonal summer slowdown, sources said.
Fastmarkets’ price assessment for ferro-silicon lumpy basis 75% Si (scale pro rata), delivered Europe
fell to €950-990 ($1,057-1,102) per tonne on Friday May 29, down from €990-1,050 per tonne the week before.
The market is currently at a new annual low and its lowest level since November 22, 2019 when the price range was at...