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Ferrosilicon Market in February: The Chinese New Year Holiday Market Overall Flat

Views: 224     Author: Site Editor     Publish Time: 2024-03-04      Origin: Site

Ferrosilicon Market in February: The Chinese New Year Holiday Market Overall Flat

February coincided with the Spring Festival holiday, the overall performance of the market was flat, maintaining relatively stable operation. After the festival steel downstream gradually back to work, but the demand is slow to follow up, the transaction has not yet recovered; the new round of steel mill bidding more down, Jiangsu Shagang March ferrosilicon 75B bidding pricing 6,780 yuan / ton, down 170 yuan / ton, bidding volume of 1,200 tons, the market sentiment is general, cautious wait-and-see mostly; magnesium city downstream purchasing willingness is not good, the offer after the festival continuous downward, driven by the price of 75 # ferrosilicon slightly loosened. Production side, considering the limited profit margins, insufficient orders and other factors, Ningxia Gansu and other producing areas to stop and reduce the phenomenon is more obvious, but compared to the more obvious decline in demand, ferrosilicon production capacity is still relatively excess overall. Futures, macro-policy favorable expectations, ferrosilicon futures plate slightly up after the holiday, but ultimately not good enough, a longer period of time to see, is still in a weak range, failed to drive the rebound of the spot offer, in February, 72 # ferrosilicon processing block quotes focusing on 6350-6500 yuan / ton or so, 75 # ferrosilicon processing block quotes 7000-7200 yuan / ton or so. Waiting for the representative steel mills bidding information announced.

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