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SunSirs: The Procurement of Ferrosilicon Was Mainly On-demand, and the Price Was Weak and Stable
July 01 2022 09:11:33SunSirs(John)

Price trend

On June 30, the mainstream price of ferrosilicon in Ningxia was between 8,300-8,400 RMB/ton, and the average market price was 8,378 RMB/ton, down 0.34% from the previous trading day and up 2.39% year-on-year.

Analysis review

The raw material blue carbon market was running steadily, and the coke accumulation in the market was obvious. The raw material end lump coal market was stable and strong, the price rebounded slightly, the bottom support of blue carbon strengthened, and the bullish sentiment in the market increased.

Supplier: The price of ferrosilicon is lower than expected. Manufacturers have planned production and maintenance plans. Some manufacturers have applied for it. It is not ruled out that other manufacturers still have plans to reduce production in the future.

Demand side: The bidding for steel mills in June basically ended. On the 30th, steel mills entered the site for purchase for July. Guangxi Shenglong cashed 8,550 RMB/ton in cash to the factory including tax. However, as soon as the price landed this time, the market reaction was relatively large. Some traders believed that the price did not meet their expectations, and they were in a cautious wait-and-see situation for the purchase demand of ferrosilicon. If there were orders, they would directly prepare the goods to lock in profits, and the business became more and more difficult to do.

Market outlook

Recently, the cost of ferrosilicon has dropped, and profits are gradually being repaired. However, the current spot inventory is still high. With abundant resource circulation, downstream enterprises are worried about the market outlook. At this stage, the procurement is still mainly based on rigid demand. In the short term, the spot price of ferrosilicon may continue to operate weakly and steadily.

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