Europe ferro-silicon market drops to March 2016 low

The European spot ferro-silicon price resumed its downturn last week, falling to a level last seen in March 2016 with consumers in the steel sector dragging down the cost of feedstock against a slump in end-user consumption.

Confirmed deals in Europe included a 400-tonne sale reportedly done at €870 ($978) per tonne delivered, with another 75 tonnes sold at €910-920 per tonne. Another deal for 2,000 tonnes of alloy was reported heard being done at €860 per tonne, although that was for delivery in July and August. Steelmakers are mostly stretching second-quarter delivery settlements into the next quarter and traders doubt that many third-quarter delivery settlements will be done given such weak demand.
Fastmarkets’ price assessment for ferro-silicon lumpy basis 75% Si (scale pro rata), delivered Europe was at €870-920 per tonne on Friday June 26, down from €900-940 per tonne the week before. The market is now at the lowest since March 2016, when the price was assessed at €865-910 per tonne.

"Steelmakers in Europe...

Published

Declan Conway

June 30, 2020

14:20 GMT

Galway