[Ferro-Alloys.com] [Spot Market] Recently, the ferrosilicon spots declined with more and more factories cut productions. And as the downstream demand improved and the transportation costs increased, the ferrosilicon price increased slightly. According to market news, some factories of the major producing areas which shut down furnaces planned to resume production.
[Steel Mills Tender] HBIS released its ferrosilicon tender price of December on Thursday, which was 6050 yuan per ton, down by 20 yuan per ton than last month. And most of the steel mills’ tender prices declined, but it was a release in demand, made the mood of the market better.
[Spot Price] 72#: around 5500 yuan per ton; 75#: around 5700 per ton.
[Ferrosilicon Futures 2001 Contract] The 2001 ferrosilicon contract price on ZCE opened at 5760, closed at 5728, and the highest price was 5916, the lowest price was 5704, the settlement price was 5732. The trading volumes were 346.8 thousand tons and the position was 77284.
[Steel] Since the mid-October, the price of steel spiked and the inventories declined with strong demand. The enthusiasm of production and replenishment enhanced as the profits improving, which would boost the ferrosilicon market. But on the other hand, the production limited policies released in many areas due to the hazy days recently. It depends how the steel mills cut productions influence the ferrosilicon market and we will concern about that.