SunSirs: Downstream Analysis of Ferrosilicon Markets (Mar. 5, 2020)
March 05 2020 13:47:39 SunSirs (Molly)
According to relevant analysis, although the continuous reduction of production and maintenance of steel mills will help alleviate the current inventory pressure, the key is still demand. At present, market transactions are still weak, downstream users have poor demand, and the dilemma of supply and demand still exists. Stocking is the main requirement, and traders are cautious about the market trend in the later period. It is expected that the downward pressure on steel prices will remain large.
There is not much demand for downstream magnesium, and the magnesium market turnover in the first half of this week is still not too much. The factory will continue to make delivery under the demand of destocking and withdrawing funds. The latest understanding is that 99.9% magnesium ingots in Fugu factory are mainly concentrated in cash 14200. Yuan / ton nearby. Considering that there is still support on costs, it is expected that the decline in magnesium prices will also be limited, and it remains to be seen how the market will progress.
To sum up, the ferrosilicon parade is in a downturn.、
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