Chinese ferro silicon prices remain stable, outlook optimistic

Prices for Chinese ferro silicon with 72% silicon content remained unchanged w-o-w at RMB 6,800- 7,000/t ($635-$962/t) including tax.

Similarly, prices of ferro silicon with 75% silicon, were assessed at around RMB 7,200 to 7,400/t ($989-$1017/t) including tax.

A big steel group in North China recently set the bidding price for September at RMB 7,450/t ($1,020/t), which is RMB 120/t ($16/) higher than last month. This news has boosted market confidence.

The spot market price for ferro silicon stayed stable, while ferro silicon futures edged up. Most of the trading happened in the spot market, and sellers were optimistic, not willing to trade in futures. As a result, prices kept rising.

However, the bidding price for September increased slightly compared to last month but there is shortage in the spot market.

Since the market is entering the peak consumption season of Golden September and Silver October, it is possible that the ferro silicon spot market may heat up even more.

Note: This article has been written in accordance with an agreement between CBC and SteelMint.