Monthly Report of Ferrosilicon Market (2021.5)

  • Tuesday, June 1, 2021

  • Keywords:Ferrosilicon Market, steel, magnesium, futures, spot, export
[Fellow]In April 2021, China exported 46356.934 tons of ferrosilicon (containing by weight more than 55% of silicon).


[Bidding Information] ZENITH released its ferrosilicon 75-B bidding price in June at 7950 yuan perton, 650 yuan per ton higher than last month; A local steel mill in Guangxi released its ferrosilicon 75-B bidding price in June at 8300/8500/8550 yuan per ton, 750-1000 yuan per ton more than last month.

[Spot Market] The inventory of most manufacturers was low; The price of raw materials rose; In June, the steel bidding price increased significantly; Ningxia's production reduction news continues (but no official document has been issued) and other favorable factors have driven the market sentiment of the ferrosilicon market to be better, and the spot price was high and stable. Although the futures market went down in late May, near the end of the month, a large factory maintenance news led to a rapid recovery of the futures market. In the short term, there is a high probability that the ferrosilicon market will continue to maintain stability. Pay attention to the change of supply and demand relationship and the policy progress in Ningxia.

[Export Market] According to data of China Customs, in April 2021, China exported 46356.934 tons of ferrosilicon (containing by weight more than 55% of silicon), an increase of 5252.354 tons year on year and a decrease of 5302.326 tons month on April 2021, China exported 1918.11 tons of ferrosilicon (containing by weight ≤ 55% of silicon), a decrease of 41.79 tons year on year and a decrease of 359.83 tons month on month. 

[Ferrosilicon Futures 2109 Contract] Opening price of ferrosilicon futures 2109 contract in May was7,400, highest price was 8,548, lowest price was 7,400, closing price was 8,224 and the settlement price was 8,126. The trading volumes were 8,924,355 and the positions were 191,487.

[Steel Market] The domestic steel market rose sharply in the first half of May and fell rapidly in the second half. With the coming of hot and rainy weather, construction steel market will face seasonal off season, and the trading volumes slide downward significantly in middle and late May. And on the other  hand, the purchasing situation warmed up as the steel price returned to reason gradually. There were analysts thought that June and July would be a good occasion to store steel, and there were also views that the steel price would continue to fall and they preferred watching for the time being.

[Magnesium Market] In May, due to factors such as tight inventory and high raw material price, domestic magnesium market increased for the second time. In the mid-May, the price soared sharply, reaching the peak of 22000 yuan per ton and then fell down in the late-May, entering to a period of consolidation.  the overall decline in late, consolidation operation.  Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 17800-18000 yuan per ton.

  • [Editor:kangmingfei]

Tell Us What You Think

please login!   login   register
  • Buy & Sell

Please be logged in to comment!