China's ferro silicon prices remain unchanged ahead of holidays

This week, the price of ferro silicon in China remained unchanged as the new year holidays approached, leading to reduced demand. Ferro silicon with 72% silicon content was sold for RMB 6,510 to 6,710/tonne (t) ($916-944/t), while ferro silicon with 75% silicon content was sold for approximately RMB 6,910 - 7,090/t ($972-997/t). These prices are inclusive of tax and are ex-works.

The spot price of ferro silicon remained stable as well. With the year-end holidays approaching, demand for ferro silicon slowed down, with most buyers having already fulfilled their requirements.

As major steel companies completed their re-stocking, the market is expected to enter a period of decreased demand. Some buyers exercised caution before entering the market, given the surplus supply compared to demand.

Looking ahead, the prices of ferro silicon futures continued to fluctuate, causing market participants to lose confidence. Both buyers and sellers exhibited subdued enthusiasm, leading to weak trading activity.

Outlook

It is expected that the ferro silicon market would stay stable in the near term, looking on to the on going market scenario.

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