Chinese ferro silicon prices rise marginally amid uncertain market trends

Prices for ferro silicon (Si: 72%) this week hovered at around RMB 6,680 - 6,780/t ($929-$943/t). The average price is about RMB 6,730/t ($936/t), an increase of RMB 90/t ($12/t).

Similarly, prices of ferro silicon (Si:75%) rose by RMB 100/t ($14) this week to RMB 7,270-7,370/t ($1,012-$1,025/t).

The ferro silicon market is going strong and prices have gone up a bit, but it hasn't affected the spot market much.

However, there is lot of uncertainty in the market right now. Traders are cautious and waiting to see what happens. Most buyers are only purchasing what they really need. As a result, prices from manufacturers aren't changing much.

The support from spot cost has weakened, and the price of steel bidding has fallen. This means that demand for ferro silicon might decrease, and prices might stay low for a while.

Outlook

Manufacturers are concerned that prices might stay low for a while. It is expected that the ferro silicon market encounter difficulties in the coming time.

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