We're pleased to provide the latest update on the China Ferro Silicon market as of May 6, 2024.
When the market resumes after the holiday, the quotations of factories in the main production areas remain the level. The manufacturers are basically At present, the single-row production status is in place, the quotation remains strong, and the market quotation supply is reduced. As silicon prices rise, factory profits recover and factories resume production. Steel recruitment in May is advancing, and steel mills' pre-holiday pricing is significantly higher than April's pricing.
In terms of magnesium metal: The market resumed after the holiday, and the quotation of magnesium ingots increased slightly. The price in the morning market was 18,100-18,200 yuan/ton in cash, which was 100 yuan/ton higher than before the holiday. As the price of silicon raw material iron continues to rise, with a cumulative increase of 800-900 yuan/ton, the cost of magnesium plants has increased significantly, and they are unwilling to ship at low prices, so the quotations have been slightly raised.
Overall: As the price of ferro silicon rises and the number of factories resuming production increases, the supply will gradually rebound. However, because the factories resuming production have received orders in advance, the ferro silicon market will still be tight in the short term. The steel bidding will continue to advance in May. Pay attention to the pricing of subsequent steel bidding. The electricity price will also be settled this week. Pay attention to the electricity price situation.
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 65, FeSi 72, FeSi 75, Ferro Silicon Market, Magnesium, Steel mills
