Price trend

Ferrosilicon: The average price of ferrosilicon in Ningxia was 7,714 RMB/ton, the same as the previous trading day, down 25.59% year-on-year.

Analysis review

On the 14th, Hebei Iron and Steel Group released the bidding price of ferrosilicon in September at 8,200 RMB/ton, and in August at 8,000 RMB/ton, an increase of 200 RMB/ton from the previous month. The number of tenders was 2,400 tons, an increase of 300 tons from the previous month. The price of raw material semi-coke fell, and the ex-factory price of small material was 1,580-1,650 RMB/ton.

After the holiday, the resumption of production in factories has increased. Zhongwei Dayou has resumed production of one 33,000kva ferrosilicon furnace, Xinhua has resumed production of two, and Inner Mongolia Zhengneng Chemical plans to resume production of one. Most of the industry insiders are optimistic.

The five major steel varieties in demand have not yet recovered to the level of the same period last year. In addition, the improvement of blast furnace conditions and the low-profit production of electric furnaces have prompted an increase in finished products. However, as the growth rate of supply exceeds the recovery rate of demand, the contradiction between supply and demand has once again attracted market attention.

Market outlook

The iconic steel mills have finalized their prices and the market has become clear. Other steel mills will start bidding one after another, and the demand may improve. On the whole, the spot price of domestic ferrosilicon is likely to run well.

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