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SunSirs: The Ferrosilicon Market Was Still Running Stably on January 5
January 06 2022 14:38:37SunSirs(John)

Price trend

On the 5th, the quotation of ferrosilicon was weak and stable, and the mainstream quotation of 72 ferrosilicon in Ningxia was around 8,100-8,200 RMB/ton.

Analysis review

After the return of New Year's Day, the ferrosilicon market is still in stable operation and development. The news was received on the first day of the New Year’s holiday that Indonesia banned coal exports in January 2022 due to concerns about the lack of domestic power supply. Thermal coal futures rose after the holiday, but this did not drive the upward trend of ferrosilicon.

Manufacturers: After New Year's Day, some manufacturers resumed production one after another, with 8 submerged arc furnaces in Ningxia and 5 in Gansu. It is expected that the daily output of ferrosilicon will increase by 795 tons. Currently, there are few transactions in the ferrosilicon market, and Zhongwei and Gansu have resumed production, and the market supply has increased.

Market outlook

In the future, the ferrosilicon market will continue to pay close attention to the steel bidding. In the short term, the ferrosilicon spot market may maintain a weak and stable operation.

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