We're pleased to provide the latest update on the China Ferro Alloys market as of May 17, 2024.
1.Ferro Silicon
Driven by the rise in futures prices, ferro silicon quotations have been raised. Factories in the production areas arranged orders for production. Some manufacturers said they would deliver hedging orders and supply sources. Continuous tension. The market is rising, there is little advantage in pricing shipments, and quotations in trade areas are gradually increasing. In May, steel recruitment was promoted as well.
The reason for the rise in the market this time is that the steel bidding price is relatively high, and the market price is at a discount compared to the steel bidding price, so there is room for supplementary increases. Second, although some manufacturers in production areas continue to resume production, the tight spot situation will remain unchanged in the short term.
In general: as the price of ferro silicon rises, profit margins continue to increase, more manufacturers resume production, and the daily production of ferro silicon rebounds, but not at a fast pace. The market is currently in a situation of increasing supply and demand, and the spot market is still strong in the short term.
2.Manganese Series
As the high levels of silicon manganese futures have fallen, coupled with the hesitation of downstream steel mills in pricing, the high sentiment in the silicon manganese spot market is also cooling down. Today's factory quotation enthusiasm is low. Many factories said that silicomanganese futures have retreated rapidly, while ore prices are still strong, and they don't know how to price. At present, silicon-manganese alloy is caught between high-level mines and deadlocked steel prices. The pressure on the cost segment has not been resolved, but the pressure on downstream demand has followed closely. After the high prices calm down, transactions and consumption are still top priorities.
3.Chrome Series
The price of high carbon ferro chrome is running smoothly today. This week, the new transaction price of 40-42% chromium concentrate from large South African mines was 311 US dollars/ton CIF, a month-on-month increase of 3 US dollars/ton CIF. Under the guidance of the futures increase, traders with spot positions are eager to see a rise, and chrome ore is low. Low-priced sources are hard to find, and ferrochromium cost support has been strengthened again. In addition, the latest bidding prices of individual steel mills have been released recently. Due to high costs and large losses, manufacturers are willing to accept orders for processing blocks. Weakened, the transaction prices of granular blocks of carbon steel plants and special steel plants have recovered compared with the previous level.
Hope it will help to guide your purchasing plan. If you have any new enquiry, please don't hesitate to contact us at jscferroalloy@jscferroalloy.com. Stay informed with the latest updates!
Keywords: Ferro Silicon, Ferrosilicon, FeSi, FeSi 72, FeSi 75, Manganese, Ferro Manganese, Silicon Manganese, Manganese Metal, Electrolytic Manganese Flakes, Ferro Chrome, FeCr
