Will China's ferro silicon prices tilt up or down amidst uncertain sentiments?

Chinese ferro silicon prices remained steady as buying inquiries continued to lag. Ferro silicon with 72% silicon was priced in the range of RMB 6,610 - 6,810/tonne (t) ($933-962/t), while ferro silicon with 75% silicon was at RMB 7,010 - 7,210/t ($990-1,018/t). All prices are ex-works and inclusive of tax.

The ferro silicon spot price exhibited limited movement and remained at a standstill. Steel companies displayed a slight decrease in their willingness to pay for it, contributing to a sluggish market in the preceding week.

Traders attempted to sell ferro silicon to generate some revenue, but buyers were not enthusiastic about purchasing. In fact, some sellers resorted to selling more than required to generate cash.

This resulted in the actual price of ferro silicon remaining unchanged due to weak market demand, and any significant improvement in the near future appeared unlikely.

Outlook

As the off-season continues, the demand for ferro silicon will keep getting weaker. So, it looks like the ferro silicon prices will stay the same for now, with minor fluctuations.

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