SunSirs: On August 11, the Spot Price of Ferrosilicon Remained Stable for the Time Being
August 12 2022 09:16:04 SunSirs (John)
Price trend
On August 11, the mainstream market price of 72 ferrosilicon in Ningxia was about 7,600 RMB/ton.
Analysis review
Supply-side output has rebounded slightly, and manufacturers in some regions have stopped production for maintenance, but most companies are still on the verge of profit and loss. The enthusiasm for buying goods from the downstream is acceptable, and traders take a small amount of goods. The shipment situation is normal, the inventory has begun to transfer to the middle and lower reaches, the profit of the steel mill has been restored, the production load has increased, and there is an expectation that production will continue to resume. With the current low inventory status of steel mills, with the expectation of resumption of production, the demand for replenishment purchases has been released since last week.
Bidding information: Hebei Iron and Steel Group's 75B ferrosilicon bidding acceptance price in August was 8,000 RMB/ton, down 200 RMB/ton from July. The quantity was 2,100 tons, a decrease of 160 tons from July, including 1,000 (+100) in Handan Iron and Steel, 400 (+150) in Chengde Iron and Steel, 400 (+140) in Shijiazhuang Iron and Steel, and 300 (-) in Tangshan Iron and Steel New District.
Market outlook
In the later stage, the main focus is on the futures disk and the performance of market supply and demand. In the short term, the spot price of ferrosilicon may continue to run weakly and steadily.
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