Weekly Commentary on Ferrosilicon Market (10.14-10.18)

  • Friday, October 18, 2019
  • Source:ferro-alloys.com

  • Keywords:Ferrosilicon, futures, spot
[Fellow]They were looking forward to a favorable turn indeed because the price “couldn’t be lower”.

[Ferro-Alloys.comMajor steel mills released their Ferrosilicon tender price in success, the average tender price was nearly flat with last month, at about 6170 yuan per ton, and it was expected that the tender price of November wouldn’t change much. Ferrosilicon factories accepted this but they were looking forward to a favorable turn indeed because the price “couldn’t be lower”.

The price of ferrosilicon changed little with last week, the inventories were still tight and the capacity utilization rate was high, but the trading volume was not that optimistic, and the demand side of downstream forced the prices down, so for the price of ferrosilicon, either rising or decreasing would be hard.

Steel: Heating period is on the way, and the capacity utilization rate of steel mills was not high under the influence of production cuts. In addition, the social steel stocks showed a downward trend recently, the current steel market was getting warn. In a short run, it would relatively strong shock.

Magnesium Metal: Not that optimistic. The price was declining with the soft demand, and may continue decreasing. Overall, the market was oversupplied, and many factories were not very optimistic about the future market.

Ferrosilicon Futures: According the data of this week, the number of warehouse receipts is downtrend, the top 20 positions increased and decreased varied, the purchase volume is more than the holding position. The highest price and the lowest price was 5886 and 5772 respectively, and the trading volume fluctuated slightly.

Below are ferrosilicon futures main contract 2001 daily specific performances:

Date

Opening price

Closing price

Range %

Settlement Price

Trading volume

October 8th

5874

5860

↑0.31

5868

52022

October 9th

5860

5878

↑0.17

5874

37708

October 10th

5878

5920

↑0.78

5906

55808

October 11th

5916

5878

↓0.47

5894

45820

October 14th

5882

5832

↓1.05

5848

59776

October 15th

5832

5862

↑0.24

5856

71210

October 16th

5860

5838

↓0.31

5838

56804

October 17th

5838

5824

↓0.24

5816

81924

October 18th

5812

5830

↑0.24

5808

64656

 
  • [Editor:kangmingfei]

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