SunSirs: On August 25, the Spot Price of Ferrosilicon Did Not Fluctuate Significantly
August 26 2022 10:23:45 SunSirs (John)
Price trend
Ferrosilicon: On August 25, the average price of ferrosilicon in Ningxia was 7,578 RMB/ton, the same as the previous trading day, down 18.22% year-on-year.
Analysis review
The spot price of ferrosilicon did not fluctuate significantly for the time being, and many people in the industry were holding a wait-and-see attitude. The futures disk fluctuated upwards, and the market mentality was slightly cautious. Shaanxi Shenmulan charcoal was affected by the epidemic, transportation was slightly affected, and The manufacturers' purchase of raw materials and sales of goods were relatively stable.. It remained to be seen whether there would be a greater impact on the price of raw materials in the future. The downstream acceptance was relatively general, mainly retail, and traders still adopted the method of receiving goods just in need. Steel mill customers were reluctant to receive goods at high prices before the steel recruitment situation in September is clear.
Market outlook
In the short term, as the end of the month is approaching, the industry will wait and see and wait for the tender situation of steel mills in September to become clear. It is expected that the ferrosilicon spot market will operate stably.
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