[Ferro-Alloys.com] The European ferro-silicon market backtracked over the past week, erasing recent gains as demand in the region tailed off, while US and Chinese prices both held amid lackluster trading activity.
European market pares gains as demand fades Chinese domestic alloys prices held; Chinese export market stagnant; US market holds absent trading activity.
Iranian semi-finished steel producers have benefited from the growing demand for such materials in China, where domestic prices have surged due to government policies that have led to cuts in steel production because of environmental concerns.
Prices of mid-grade Brazilian fines were up on Wednesday October 30, with a Brazilian Blend fines (BRBF) cargo fetching $85.60 per tonne, although market participants saw little scope for any major correction in mid-grade iron ore prices.
Market participants flagged a bearish outlook on seaborne coking coal prices in the coming weeks, citing the dwindling attractiveness of imported cargoes for Chinese buyers.