Moreover, some traders and steelmakers said standard grade was being offered at well below €4,000 ($4,577) per tonne for delivery in the first quarter amid persistently weaker prices in Asia, notably from China.
The market dropped by almost 5% over the week to Friday after a similar fall the previous week, amid quieter trading and signs of weaker prices in the first quarter of 2022. Ferro-silicon producers were mostly sold out for the next quarter, while there have been domestic production cuts in Europe.
Tight supply after European production cuts and a virtual lack of imports had pushed prices to record highs by the end of October, although weakening transport costs raised the potential for renewed sales from Malaysia, a traditional exporter to Europe, in the coming months, trade sources said.
Fastmarkets assessed the spot price for ferro-silicon, lumpy, basis 75% Si (scale pro rata), delivered Europe at...