Ferrosilicon market consolidated this week

Spot side

The overall shipment of ferrosilicon spot market has slowed down, and manufacturers are mainly engaged in shipment. The short-term ferrosilicon market demand is still relatively general, and manufacturers are more willing to support prices due to profits. The sustainability of downstream ferrosilicon demand remains to be observed, and attention should be paid to the downstream's acceptance of high-priced resources. The 72 ferrosilicon natural block in the main ferrosilicon production area is 6150-6200 yuan/ton, including tax, and the 75 ferrosilicon price is 6650-6700 yuan/ton.

Futures side

Today, ferrosilicon futures fluctuated weakly, and the main contract futures 2410 closed down 0.55%, closing at 6134, down 34.

Demand side

With the recent market conditions continuing to fall, downstream actual order purchases are mainly wait-and-see, with no intention of hoarding goods for the time being. Some choose to sell at a competitive price, and the actual order is negotiable. The overall transaction is general. The terminal procurement enthusiasm is general, and steel bidding has entered the bidding one after another. The overall 72 ferrosilicon standard block bidding is priced at 6630-6650 yuan/ton, including tax, at the factory acceptance.

Traders

Anyang traders face great market competition pressure, and it is common to reduce prices when orders are limited. The tax-exclusive price of 72 ferrosilicon natural blocks is 5800-5900 yuan/ton, and the tax-exclusive price of 75 ferrosilicon natural blocks is around 6200-6300 yuan/ton.

Market outlook

In general, the purchasing plans of end customers in the ferrosilicon market are cautious, and are still dominated by rigid demand. The overall market demand is still weak, and traders are cautious and pessimistic about the market outlook.