Monthly Report of Ferrosilicon Market in June, 2022

  • Friday, July 1, 2022
  • Source:Ferro-Alloys.com

  • Keywords:Ferrosilicon futures, ferrosilicon demand, steel market, magnesium market
[Fellow]Ferrosilicon futures continued to fall in June, resulting in spot prices falling.
 
[Ferrosilicon Market] Ferrosilicon futures continued to fall in June, driving spot prices falling. The trading performance was average, with growing pessimism and cautious operation. Since the production side has always been relatively stable, the monthly output has been at a continuous high level, while the downstream had export support, but the domestic demand was light. Some manufacturers said that they delivered according to orders and already had a small inventory. In June, the price of steel tender continued to shrink from 9600 yuan per ton to about 8800 yuan per ton, and the progress of steel tender was slow in July. On June 22, the Silicon Committee of China Ferroalloy Industry Association held the second video meeting in 2022, calling on ferrosilicon enterprises to pay more attention to their own technology and equipment upgrading under the current market environment, form a joint force, orderly overhaul and reduce production, and "getting through the winter" together.; And according to market news, some ferrosilicon plants in Ningxia, Shaanxi and other regions have begun to reduce production or avoid peak production (the exact information needs to be further tracked). 
 
In June, the opening price of 2209 contract was 9140, the highest price was 10068, the lowest price was 8132, the closing price was 8378, the settlement price was 8422, the trading volume was 3766050, and the position was 152995, a decrease of 2.16%.
Below are ferrosilicon futures main contract daily specific performances:
 

Date

Opening price

Highest price

Lowest price

Closing price

Settlement price

Trading volume

Positions

Range

6.1

9140

9370

9050

9342

9230

159541

131227

1.30%

6.2

9320

9414

9256

9390

9344

130898

123070

1.73%

6.6

9430

9484

9346

9410

9418

113799

123244

0.71%

6.7

9410

9588

9372

9538

9518

138472

122421

1.27%

6.8

9580

9928

9556

9902

9788

203221

149535

4.03%

6.9

9902

10068

9738

9762

9918

215220

145118

-0.27%

6.10

9760

9842

9594

9774

9718

166265

147078

-1.45%

6.13

9618

9652

9308

9388

9432

203570

138374

-3.40%

6.14

9300

9360

9054

9120

9172

193759

138046

-3.31%

6.15

9050

9134

8868

8876

9022

180202

143123

-3.23%

6.16

8970

9068

8812

8822

8934

161332

135578

-2.22%

6.17

8730

8788

8642

8660

8706

179165

147337

-3.07%

6.20

8500

8520

8168

8314

8290

247031

161934

-4.50%

6.21

8400

8554

8294

8298

8408

203848

144474

0.10%

6.22

8280

8362

8132

8182

8264

177076

164031

-2.69%

6.23

8316

8446

8214

8390

8336

210840

145756

1.52%

6.24

8300

8368

8192

8306

8276

179360

148927

-0.36%

6.27

8428

8598

8394

8520

8516

195709

137251

2.95%

6.28

8510

8650

8360

8644

8482

170720

135341

1.50%

6.29

8660

8678

8510

8572

8580

145956

130762

1.06%

6.30

8570

8572

8354

8378

8422

190066

152995

-2.35%
 
 
[Ferrosilicon Exports] According to data of China Customs, in April 2022, China exported 75487.143 tons of ferrosilicon (containing by weight more than 55% of silicon), with a year-on-year increase of 62.84% and a month on month decrease of 1.01% (46356.934 tons in April 2021 and 76259.419 tons in March 2022); From January to April 2022, China exported 264499.25 tons of ferrosilicon (containing by weight more than 55% of silicon), a year-on-year increase of 94.01%.
 
[Steel Market] Recently, due to the overall poor downstream demand in the domestic steel market, the weak situation has continued. Since mid-June, the steel price has fallen sharply by 300-600 yuan per ton, superimposed into high-temperature and rainy weather, and the losses of steel enterprises have intensified. Steel enterprises in many provinces across the country have issued maintenance plans. In June, China's economic boom level rebounded significantly; However, the PMI of the steel industry in June was 36.2%, down 4.6 percentage points month on month. The operation of the steel industry was relatively sluggish. We should pay attention to the changes in downstream demand in July and the progress of steel plants maintenance and production reduction.
 
[Magnesium Market] In June, the domestic magnesium metal market was affected by the continuous weak downstream demand, coupled with the weakening and callback of the ferrosilicon market at the raw material end, the factory cost support further weakened, and the magnesium price fell again and again. By the end of the month, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 24800-25200 yuan per ton. In July, the downstream entered the traditional off-season of demand. Under the market pattern of oversupply, the short-term magnesium market is still difficult to be optimistic, or may be consolidated.
 

 

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  • [Editor:kangmingfei]

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