Ferrosilicon market is in consolidation

Spot side

The ferrosilicon market continues to be weak, the market is in a wait-and-see mood, and some factories have increased their willingness to stop production.

Today's spot market demand is average, and some manufacturers are still cautious about the future market. The price of 72 ferrosilicon natural blocks in Qinghai factory is 6650-6750 yuan/ton, and the price of 75 ferrosilicon natural blocks is 7100-7200 yuan/ton.

Futures side

Today, ferrosilicon futures fluctuated upward, and the main contract futures 2409 closed up 0.11%, closing at 7018, up 8.

Demand side

Black futures led the ferrosilicon market to fluctuate, the market sentiment is still good, ferrosilicon transactions have rebounded, and downstream demand has been released. Traders are still active in quoting, mainly shipping at appropriate prices, and inventory has been slightly digested.

Trading side

Anyang traders are in low market sentiment, and some customers believe that if market demand does not improve, ferrosilicon will be difficult to stabilize. The tax-free price of 72 ferrosilicon natural block is about 6,500 yuan/ton, and the tax-free price of 75 ferrosilicon natural block is 6,700-6,800 yuan/ton.

In general, the market is currently in the traditional off-season for consumption, and it is difficult for downstream rigid demand purchases to improve significantly. However, coupled with the bidding of steel mills, the short-term ferrosilicon price may remain the same.