We're pleased to provide the latest update on the China Ferro Alloy market as of May 28, 2024.
Ferro Silicon
The market resumed at the beginning of the week, and the ferrosilicon market is operating stably for the time being. The manufacturer maintains the status of placing orders, and the market transaction rhythm is basically consistent with the rise and fall of the market.
In terms of steel recruitment: The steel recruitment in June has been launched, and Kunming Iron and Steel Co., Ltd. is priced increasing of 310 yuan/ton from the previous round.
Magnesium metal: The quotation of magnesium factory today is temporarily stable. The low-price supply is small, and the raw material ferrosilicon is relatively strong. The supply of Shaanxi FeSi 75# is relatively tight, The short-term magnesium price may be stable. , pay attention to the transaction follow-up situation.
In general: the steel recruitment in June is advancing, and the pricing of steel mills is acceptable. The profit of ferrosilicon is acceptable, more factories have resumed production, and the market will remain stable in the short term.
Silicon Metal:
Recently, industrial silicon futures have been rising continuously driven by funds, and silicon factories in various places have been actively arbitraging, resulting in a price-raising sentiment in the spot market. According to some industrial silicon factories, after the disk +540 on the 24th, spot merchants and spot traders are actively making inquiries, some orders have been finalized, and a lot of recent and forward contracts have been sold.
There is currently no substantial improvement in the fundamentals of the industrial silicon spot market, and the impact of many market factors has led to an increase in the supply side and a reduction in the consumption side, and the overall trend is bearish. The rise in the futures market has led to increased enthusiasm for factory production and increased hedging. At the end of the month, the downstream sector is in urgent need of release, and silicon factories have increased their price support sentiment.
Manganese Ore
The bullish sentiment in the manganese ore market was positive at the beginning of the week. Port statistics on manganese ore inventories decreased uniformly last Friday. In addition, today's silicomanganese futures rose back to the 9,000 mark again. Enterprises frequently quoted high prices, and the bullish sentiment towards the market outlook continued unabated.
Silicon manganese
At the beginning of the week, silicon manganese futures returned to 9,000 again, and the gap between futures and current prices widened. The spot market is in chaos. Some factories have limited spot quotations to follow the rise in the market, and some factories have said that the actual retail transactable price has rebounded slowly. They continue to wait and see the market and operate with caution.
Ferromanganese
The cost-end manganese ore price remained at a high level. A new round of steel recruitment cycle is approaching, which increases the confidence of ferromanganese factories in stability. The market for medium and low manganese is stable but relatively strong. The industry has expectations for an increase in the price of the new round of steel bidding. Individual factories have shown signs of rising prices for low and medium manganese.
Electrolytic manganese
After the May steel bidding gradually came to an end, the electrolytic manganese market demand followed up slightly slowly. Some traders were actively willing to sell their slightly lower-priced futures supply in the early stage. The purchasing sentiment of end customers in the retail market was cautious. There are doubts about the future supply and demand situation, and there is a strong fear of high prices. As the time approaches the June steel recruitment cycle, industry players have certain expectations that the market will once again move toward the higher price level.
Ferro Chrome
After a new round of chrome ore futures transactions was concluded, spot chromium prices at the port continued to be pushed up, factory smelting costs continued to increase, and external quotations were generally raised. At the end of the month, the downstream demand for ferrochrome has begun to implement procurement and stocking, and the activity of high-chromium inquiries and transactions has increased. At present, most of the high-carbon ferrochrome resources are delivered under long-term contract orders or the factories have been pre-sold in advance. Therefore, although the output is at a high level, The supply of circulating goods is not very abundant, which gives manufacturers the confidence to raise prices.
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, Silicon Metal, Manganese, Ferromanganese, Ferro Chrome, Ferrochrome, Ferro Alloy
