Ferrosilicon prices are “calming”

Weekly (2.26-3.03): Analysis of Ferrosilicon market.

At the Earlier of this week (2.26), Ferrosilicon manufacturers cut their EXW prices sharply by around 45USD/MT.

The EXW price to be stable at the weekend (3.03).

At present, the price of ferrosilicon is more restricted by the market.

First of all, in Ningxia province, the main producing area of ferrosilicon, after the Chinese New Year, the factory compound production increased, and the overall operating rate or to saturation.

Secondly, for ferrosilicon traders and steel mills, the procurement was more cautious, all to wait and see or purchase on demand.

In March, steel mills began bidding, which fell mainly in March compared with the February tender. The bidding price of 72# ferrosilicon for steel mills is between 1110 USD/MT-1150 USD/MT. Among them, the bidding price of HBIS Group Co., Ltd is 1150 USD/MT, the quantity is 3900 tons.

However, some people in the industry believe that due to the cost of ferrosilicon, the latter there is not much room for price decline, and with the depletion of stocks, ferrosilicon prices are expected to run smoothly.

Last weekend’s EXW price of ferrosilicon in main producing area was statistic by CHEEGOOLE as follows:

Inner Mongolia   ferrosilicon 72# EXW price: 1075 USD/MT-1095 USD/MT.
Gansu Province  ferrosilicon 72# EXW price: 1060 USD/MT-1095 USD/MT.
Qinghai Province   ferrosilicon 72# EXW price: 1050 USD/MT-1095 USD/MT.
Ningxia Province   ferrosilicon 72# EXW price: 1050 USD/MT-1095 USD/MT.

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