Weekly Commentary on Ferrosilicon Market (5.6-5.9)

  • Saturday, May 09, 2020
  • Source:ferro-alloys.com

  • Keywords:Weekly Commentary, Ferrosilicon Market
[Fellow]The ferrosilicon market has been running smoothly, with little change in price before the holiday.

[Ferro-Alloys.com]

[Steel tender] The steel bidding of May continued, and the situation showed signs of improvement compared with that before the festival: HBIS Group released tender volume of 1062 tons, with a decrease of 3 tons on a month on month basis; the tender price of ferrosilicon 75B of Fujian Sangang Group was 5780 yuan per ton, with an increase of 100 yuan per ton on a month on month basis, and the tender volume was 3500 tons, an increase of 1000 tons on a month on month basis.

[Spot market] The ferrosilicon market has been running smoothly, with little change in price before the holiday. The operating rate and daily average output slightly increased compared with last week. To some extent, high-speed charging accelerated the sales of ferrosilicon, and also increased the change of transportation cost of raw materials. Currently, the overall inventory of ferrosilicon is low, and the mood is strong.

[Ferrosilicon futures 2005 contract] Opening price of ferrosilicon futures 2005 contract of this week was 5850, highest price was 5850, lowest price was  5756, closing price was 5846 and the settlement price was 5814. The positions were 55553 and the trading volumes were 175752.

Below are ferrosilicon futures main contract 2005 daily specific performances in this week:

Date

Opening price

Highest price

Lowest price

Closing price

Settlement Price

Trading volume

Positions

5.6

5850

5850

5772

5782

5800

60214

43334

5.7

5778

5804

5756

5796

5780

49230

43760

5.8

5770

5848

5766

5846

5814

66308

55553

 

[Steel market] The downstream demand gradually recovered and the steel storage was less and less. According to the data of China Iron and Steel Association, in late April, the steel inventory of key steel enterprises was 14.7282 million tons, 2.6921 million tons (15.45%) less than the previous ten days; and 5.1598 million tons (54.51%) more than the beginning of the year. But on the other hand, the production enthusiasm of steel mills kept high, and the overall supply pressure was still large.

[Metal Magnesium market] The demand side has not improved significantly, the market attitude was cautious, and the manufacturer's quotation was firm. According to the latest information, the current cash quotation including tax of 99.9% magnesium ingots in fugu area was around 13150-13200 yuan per ton.

  • [Editor:kangmingfei]

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