Price trend
On July 4, ferrosilicon in Ningxia was mostly sold at pricing, with the spot price around 7,900 RMB/ton, and most manufacturers did not offer quotations.
Analysis review
Today's futures market fell 4.21%, opening at 8,080 and closing at 7,920, with a maximum of 8,090 and a minimum of 7,698. The continued downturn in futures once again seriously hurt the confidence of the industry, and the transaction was not carried out well.
The current hope is pinned on steel bids, but due to the continued downturn in the futures market, the bidding price of steel mills may not be too ideal. At present, due to the continued downturn in prices, some manufacturers have already scheduled production and maintenance.
Market outlook
The short-term ferrosilicon spot market may continue to run weakly.
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