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China: Ferro silicon prices remain stable w-o-w

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Ferro Silicon

BigMint Bureau

124 Reads

8 Aug 2024, 17:23 IST

China: Ferro silicon prices remain stable w-o-w

CBC: Ferro silicon prices remained consistent this week, despite numerous inquiries and limited trading volumes.

Grade 75% silicon: Prices were unchanged w-o-w and settled within a range of RMB 6,920-7,020/tonne (t) ($965-$979/t) ex-works, including tax.

Grade 72% silicon: Prices remained largely stable for this grade, inching up by RMB 50/t ($7/t) to RMB 6,350-6,500/t ($886-$907/t) ex-works, including tax.

Production cuts, maintenance works: Market confidence declined, with a subdued mood prevailing. Manufacturers' profit margins continue to shrink, leading to reports of maintenance and production cuts in key areas. Combined with an overall high supply, the futures market has experienced downward fluctuations, driven by multiple negative factors.

Ferro silicon futures decline: China's Zhengzhou Commodity Exchange (ZCE) for September 2024 delivery of ferro silicon went down w-o-w by RMB 48/t ($7/t) to RMB 6506/t ($908/t) on 8 August, 2024 as against RMB 6,704/t ($935/t) on 1 August 2024.

Outlook

With the continued efforts of macroeconomic policies, the gradual recovery of terminal demand in the industrial chain, and a slight increase in costs, ferro silicon prices are expected to move up slightly in the near term.