SunSirs: On October 25, the Ferrosilicon Market Operated Weakly and Stably
October 26 2022 08:52:43 SunSirs (John)
Price trend
On October 25, the price of ferrosilicon futures fell 2.86%. The opening price was 7,998, the highest was 7,998, the lowest was 7,792, and the position was 160,470. The spot price fell by 50-100 RMB/ton, and the average market price was 8,064 RMB/ton, down 0.09% from the previous trading day, anf down 46.68% year on year.
Analysis review
There was no news about the suspension of production of charcoal in Fugu area, and the price was temporarily stable. Ferrosilicon production was relatively stable, the operating rate and daily output increased, while the demand side was affected by the loss of steel mills, limited production and maintenance, and some inventory after the recent replenishment.
Market outlook
A new round of steel bidding is about to come. At present, the market is in a rational state, and mainly wait-and-see. In the short term, the spot market of ferrosilicon may temporarily operate stably.
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