European Ferrosilicon Prices Fall

Beijing (Asian Metal) 2024-2-7 

Suppressed by weak demand, the current mainstream price of ferrosilicon 75%min 10-50mm in the European market fell by 50 euros/ton (US$55/ton) from the beginning of last week to 1,350-1,450 euros/ton. (1,473-1,562 USD/ton t) Warehouse delivery at Rotterdam Port. Insiders predict that due to sluggish demand, the mainstream price of ferrosilicon 75%min 10-50mm in the European market will fall further next week.

A China-European trader revealed that he was unable to close a deal this week at a price of 1,400 euros/ton ($1,528/ton) delivered at the port of Rotterdam, because his customers could get a price of 1,350 euros/ton ($1,473/ton). The goods come from Egypt or Malaysia. The trader revealed: "Earlier last week, I was insisting on €1,450 ($1,562) per ton, but due to weak demand, I can currently accept €1,400 ($1,528) per ton as the lowest price this week. to boost sales.” He added that his most recent sale was in late January, when he sold 30 tons at 1,450 euros ($1,562 per ton), and that there was less demand from foundries due to delays in the supply of raw materials from other countries. He predicted that as demand decreases, the mainstream price of ferrosilicon 75% 10-50mm in the European market will fall further in the next week.

The trader's regular monthly trading volume of ferrosilicon is 300 tons, and it is expected to sell 100 tons in February, a decrease of about 100 tons from the previous month. The trader's current inventory is about 300 tons. His trading volume in 2023 will reach around 2,500 tons.

Another consumer in Central Europe revealed that he purchased 60 tons of ferrosilicon 75%min 10-50mm from a regular supplier this week at a price of 1,400 euros per ton (US$1,528/ton), and the shipping cost was approximately per ton. 50 euros per ton ($55 per ton). "Due to the steel mill's reduced orders for my end products, my consumption of ferrosilicon in January decreased by about 30% compared to December," the consumer revealed. He believes that the mainstream price of ferrosilicon 75%min 10-50mm in the European market will continue to fall next week.

The consumer's annual ferrosilicon consumption capacity is about 2,500 tons, and its consumption this month is expected to be about 100 tons, about 50 tons less than in January. Consumer inventories remain at around 200 tons.