We're pleased to provide the latest update on China's ferro silicon market as of April 2, 2024.
Stable Market Prices Amid Declining Output:
Despite a continued decline in daily ferrosilicon output, market prices have remained stable. Today, Ferrosilicon futures experienced an upward trend, driven primarily by the rebound of the overall black series and increased maintenance of ferro silicon furnaces. This decline in output has spurred improved market inquiry activity following the rise in futures prices.
Price Adjustments by Shaanxi Manufacturers:
FeSi75 manufacturers in Shaanxi have reported satisfactory recent transactions, with inventory levels nearing depletion. Consequently, major manufacturers in Shaanxi are planning to implement a price increase of RMB 100 per ton.
Factory Operations:
Last week (March 25-31), daily ferrosilicon output amounted to 13,388 tons, representing a decrease of 500 tons compared to the previous period. This week, Qinghai Huadian conducted maintenance on one furnace unit, while Qinghai Changyuan resumed production of one unit.
Focus on Cost and Procurement:
The price of semi-coke at the cost end has seen minimal change, with a primary focus on electricity price settlement in March. Despite sluggish operations, the decline in ferro silicon output on the supply side has prompted progress in steel mills' procurement activities, albeit at a slow pace. We will continue to monitor changes in construction start-up and electricity price settlement in the coming weeks. Short-term stability is expected in the ferro silicon market.
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Keywords: Ferrosilicon, FeSi75, FeSi72, FeSi70, Ferrosilicon Market trends, Ferrosilicon Price, Ferrosilicon Production, Ferrosilicon Supply and demand, Steel mills
