Ferrosilicon Market Analysis

According to “Ferro Alloy Online” 2022-9-9~2022-9-16: Ferrosilicon price first rose and then stabilized, and the market resumed after the holiday. The futures market rose significantly, the quotations of ferroalloy manufacturers rose, and the tone of steel recruitment was determined. The enthusiasm of factories to resume production has increased. Zhongwei and Inner Mongolia have factories to resume production, and ferrosilicon Nissan has steadily recovered. Inflationary pressure in the United States has not diminished, and it is more likely to continue to raise interest rates. The futures market turned from up to down. The ferrosilicon market price remained stable at the end of the week. The mainstream quotations were 72#1101usd-1115usd, 75#1159usd-1174usd/ton of cash. The rhythm slows down.

1. Ferrosilicon price in China

Ferrosilicon rose first and then stabilized. The market resumed from the Mid-Autumn Festival holiday, the futures opened up, and the quotations of ferrosilicon manufacturers rose. The mainstream quotations were ferrosilicon 65# 1058-1080, ferrosilicon 72# 1101-1130 natural lumps, and 1130-1145 USD / ton standard block in cash. Up 7-15 USD / ton, the market price of ferrosilicon 75# remained at 1159-1174 USD / ton in cash natural lumps. With the rise of futures trading, the hedging space has expanded, and the enthusiasm of ferroalloy manufacturers to resume production has increased. The U.S. consumer price index (CPI) rose 8.3% year-on-year in August. Inflationary pressure remained unchanged, U.S. stocks plummeted, domestic black futures traded from up to down, manufacturers’ quotations remained stable, and the market transaction pace slowed.

2. Export market of Ferrosilicon

This week, the export market quotation of ferrosilicon is FOB 72#1510-1550, 75#1610-1650 USD / ton, down 20 USD / ton, on the one hand, foreign customers have significantly reduced prices, on the other hand, exchange rate fluctuations, the offshore RMB exchange rate against the US dollar broke ” 7”, and the export market price loosened slightly. The quotation in the Indian market is 70# 145,000 rupees / ton, and the transaction price is concentrated at 70# 14.2-143,000 rupees / ton. Europe 75# 2100-2400 euros / ton.

3. Downstream Marketof Ferrosilicon

Magnesium metal: last week, most of the exporters have made purchases and submitted orders. This week, the market heat has subsided, and the transactions of inquiries are generally average. The transaction price is 3478-3522 USD / ton in cash, and the high-priced transactions have decreased, which is slightly lower than last week. There is no other news affecting the market, factory quotations remain firm, and there are fewer low-priced supplies.

Steel mills: Entering the peak season of traditional demand in September, due to the strong expectation of recovery of terminal demand in the peak season, the resumption of production of steel mills has increased. Statistics from the China Iron and Steel Association show that in the first ten days of September, the average daily crude steel output of key steel companies was 2.0982 million tons. The ten-day period increased by 3.26% month-on-month and increased by 2.60% year-on-year. However, due to the high cost of short-process steel mills, the production capacity release of EAF steel is still significantly limited. With the increase in inventories, market worries have increased, and the demand recovery has not been as expected, and the reality is still weak. It is expected that before the Fed’s interest rate hike will be implemented, many factors inside and outside the market will be disturbed, and the volatility will be under pressure.


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