China: Ferro silicon prices unchanged amid flat demand

The price of ferro silicon (Si: 72%) in China remained stable on 26 Jul'23 at RMB 6470-6570/t ($906-920/t), with an average price of RMB 6520 yuan/t ($913/t). Ferro silicon was in surplus supply, and prices were low. This indicates that businesses currently have no need for purchasing a lot of raw materials.

However, due to the very low costs, the majority of these businesses were still not gaining a great deal and struggling and buying less ferro silicon are the steel mills that use it.

Outlook

Ferro silicon production costs are not being adequately supported, and steel mills' desire to contribute for it has decreased. This implies that ferro silicon's price will probably continue to be low for a while. Even some manufacturers believe that the price may decrease even further. Due to the lack of trade activity, buyers are hesitant of concluding deal further. Ferro silicon prices are currently not doing well overall.

Note: This article has been written in accordance with an agreement between CBC and SteelMint