The price of ferro silicon in China experienced a decrease by RMB 100/t ($14/t) as the market approached the year-end. The ferro silicon with 72% silicon was sold for RMB 6,510 to 6,710/tonne (t) ($915-945/t), and the ferro silicon with 75% silicon was sold for around RMB 6,910 - 7,090/tonne (t) ($973-998/t). All prices are ex-works and inclusive of tax.
The spot price of ferro silicon observed a decline as the year-end approached, with market players preparing for the holiday season. Most steel mills had already stocked up on ferro silicon, and suppliers retained a small amount of stock to assess market changes after the new year.
However, the demand for ferro silicon did not witness a significant improvement, resulting in a slight overall downward trend in the market.
As the Spring Festival holiday approached, the downstream market entered a holiday mode, leading to reduced inquiries and transactions. Despite the subdued market activity, some companies with urgent needs continued to purchase ferro silicon, providing some support to the market.
Looking ahead, the futures market for ferro silicon showed fluctuations in an upward direction. However, when compared to the actual prices in the market, it appeared that the futures market lacked sufficient support to drive prices higher.
Meanwhile, traders exhibited less interest in shipping ferro silicon, particularly in the trading sector. Most manufacturers opted to delay shipping their products until after the new year.
