Price trend
The ferrosilicon spot market quotations are chaotic, and some companies have one order for one price. On the 16th, the mainstream price of 72 ferrosilicon in the main production area of Ningxia was around 8,500-9,000 RMB/ton.
Analysis review
The continuous price decline has led to extremely negative sentiment in the factory, and the downstream suppress orders and do not purchase, acting cautiously. The factory is under double pressure from cost and inventory.
The raw materials have also been lowered: Shenfu’s small power semi-coke has been lowered slightly, and the price was 1,600-1,700 RMB/ton, down 100 RMB/ton from last week. The industry was in a wait-and-see state.
Market outlook
There is currently no new development in policy news, and in terms of future trends, It is needed to pay attention to futures market trends and changes in factory operations. It is expected that the ferrosilicon spot market may continue to be sluggish in the short term.
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