Ferrosilicon market consolidates this week

Spot side

It is difficult to make transactions at high market prices, there is no significant change in raw materials, downstream procurement demand is weak, and the market as a whole maintains rigid demand. The price of 72 ferrosilicon natural blocks is 6200-6300 yuan/ton, and the price of 75 ferrosilicon natural blocks is 6750-6850 yuan/ton.

Futures side

Ferrosilicon futures fluctuated today, with the main contract futures 2410 closing down 0.75% to 6328, down 48%.

Demand side

The overall procurement plan on the downstream demand side is cautious, still focusing on rigid demand, and steel mills are successively bidding for pricing. Traders are mostly waiting and watching when purchasing, and are cautious about the market outlook.

Traders

Anyang traders' market transactions were average, and ferrosilicon inventory gradually increased. The price of 72 ferrosilicon natural blocks excluding tax is about 5900-6000 yuan/ton, and the price of 75 ferrosilicon natural blocks excluding tax is 6400-6500 yuan/ton.

Outlook

Today, the trading sentiment in the ferrosilicon market has recovered significantly. Driven by the positive sentiment, it has shown a strong and volatile trend. The spot market is stable, manufacturers' confidence has been slightly boosted, and most of them are not very enthusiastic about cutting prices to sell goods. Under the long-short game, the ferrosilicon market is expected to remain low and volatile in the short term.