In the first working week of the Year of the Tiger, the ferrosilicon futures continued to fluctuate; Due to the small inventory, cost support, steel tender (the latest published steel tender prices were about 9100 yuan per ton, Shagang announced the tender volume of 2500 tons) and other favorable factors, the spot market operated steadily, the quotation was rising slightly, and it was difficult to find low-price goods. However, the supply side was also gradually recovering (the domestic ferrosilicon output exceeded 500,000 tons again in January). At present, the actual transaction was relatively so-so, and the wait-and-see mood was still strong. Pay attention to the progress of steel mills tender information, the change of supply and demand relationship, the transaction situation and the change of cost side.

The opening price of 2205 main contract of ferrosilicon futures this week was 9,100, the highest price was 9,496, the lowest price was 8,978, the closing price was 8,988, the settlement price was 9,214, the trading volume was 1,131,040, and the position was 112,906, an increase of 0.40%.

Below are ferrosilicon futures main contract daily specific performances:

According to the statistics of China Iron & Steel Industry Association, the average daily crude steel output of key steel enterprises in late January 2022 was 2.0136 million tons, with a month on month increase of 1.32% and a year-on-year decrease of 7.49%; In late January, the steel inventory of key iron and steel enterprises was 13.6827 million tons, with a month on month increase of 532500 tons, an increase of 4.05%; An increase of 2.3858 million tons over the beginning of the year, an increase of 21.12%; 79900 tons less than the same period last year, a decrease of 0.58%. After the Spring Festival holiday, the domestic steel market fluctuated and operated stronger. Although the downstream demand has not been fully resumed, the steel price has been rising for days, and the market was optimistic about the short-term market.

In the first working week of Year of the Tiger, the domestic metal magnesium market operated more strongly than before the holiday, and the inventory pressure on the factory was not large. It was expected that from next week, the demand side would gradually recover, the willingness to transact at low prices was low, and superimposed the uncertainty of environmental protection policy, it was expected that the stable consolidation trend would continue in the short term. On Friday, the ex-factory cash quotation including tax of 99.9% magnesium ingots in Fugu area was about 42500-43000 yuan per ton.