SunSirs: Negative Factors Dominated, and the Ferrosilicon Market Was Generally Weak
November 19 2021 14:22:31 SunSirs (John)
Price trend
On the 18th, the ferrosilicon spot market as a whole had no obvious fluctuations. The mainstream price of 72 ferrosilicon in Ningxia's main production area was around 8,500-9,000 RMB/ton.
Analysis review
At present, affected by factors such as Hebei's production restrictions and the Winter Olympics, market sentiment has been extremely poor, and prices have continued to fall. It has already fallen below the cost of restricted factories in Inner Mongolia, and the price is gradually approaching to the cost in other high electricity price producing areas.
Due to slower market circulation, transactions are poor. Most factories have stocks in hand, and futures disk performance is weak, market sentiment is still pessimistic. Moreover, traders are more cautious under the falling prices, purchasing passively, and the market is trapped in a vicious circle.
Market outlook
In the short term, with negative factors dominating, the ferrosilicon market as a whole may continue to operate weakly.
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