The operation of the ferrosilicon market this week

Spot side

The trading sentiment in the spot market is general, the spot price is stable, and the manufacturers mainly deliver the previous orders. The price of 72 ferrosilicon natural block is 6450-6500 yuan/ton, and the price of 75 ferrosilicon natural block is 6900-7000 yuan/ton.

Futures side

Today, ferrosilicon futures are under pressure to go down, and the main contract futures 2409 closed down 5.74%, closing at 6506, down 396.

Demand side

Most steel mills are losing money and continue to expand the scope of production reduction and maintenance. Under the high temperature weather, the transaction volume of the steel market has not improved, and the rigid demand faces the risk of weakening. The shipment volume of traders is less than expected, the quotations are generally positive, and the inventory is replenished on demand, and there are fewer downstream inquiries.

Traders

The market quotations of Anyang traders are chaotic, and the wait-and-see sentiment is strong. The tax-free price of 72 ferrosilicon natural block is about 6200 yuan/ton, and the tax-free price of 75 ferrosilicon natural block is 6700 yuan/ton.

Outlook for the future market

In general, downstream demand continues to be weak, the market sentiment of ferrosilicon is weak, and there has been a third round of price increases and reductions in coke recently, and raw material prices are under pressure.

In the short term, the market demand for ferrosilicon will remain mainly rigid demand, the spot market will follow the fluctuations of the futures market, and downstream terminals will purchase on demand. We will take a cautious wait-and-see approach to the future market of ferrosilicon and wait for the guidance of steel recruitment.