SunSirs: In the Short Term, the Ferrosilicon Market May Be Operating Weakly
December 17 2021 14:02:55 SunSirs (John)
Price trend
On the 16th, the mainstream price of 72 ferrosilicon in Ningxia's main production area was around 8,200-8,300 RMB/ton.
Analysis review
The long-awaited Hebei Iron and Steel Group’s December bidding price for ferrosilicon was finalized. The price was 8,600 RMB/ton, which was a reduction of 2,400 RMB/ton from the previous month, and the bidding volume was 398 tons, which was a decrease of 1,051 tons from the previous month. The current market direction is clear, but compared with last month, the bidding volume has fallen sharply, and the market pessimism is difficult to change. In addition, the futures market has been in a volatile operation, the spot performance is relatively stalemate, and the overall transaction is mainly based on just-needed purchases. At present, compared with November, the pressure on factory inventory has decreased, but the cost has risen after the electricity price has risen. Due to the cost pressure, the performance of the factory has been slightly resisted, and the price adjustment has been small.
Market outlook
In the short term, the ferrosilicon market m may be operating weakly.
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