Weekly Report of Ferrosilicon Market (3.15-3.19)

  • Friday, March 19, 2021
  • Source:ferro-alloys.com

  • Keywords:ferrosilicon,futures,spot,steel,magnesium
[Fellow]The supply side is relatively stable; while the demand side is expected to decrease.

[Spot Market] The supply side is relatively stable; while the demand side is expected to decrease as a result of the strict policy of limiting production and reducing emission in Tangshan and other regions, and the output of some steel mills would be reduced; plus the futures market continues to decline, which has an impact on the mentality of the spot market, and the price has a slight cuts. Pay attention to the overall output changes brought by the production area's shutdown, new production and resumption and downstream demand changes.

[Ferrosilicon Futures 2105 Contract] Opening price of ferrosilicon futures 2105 contract of this week was 7560, highest price was 7564, lowest price was 6920, closing price was 6962 and the settlement price was 7094. The trading volumes were 1356975 and the positions were 154233.

[Steel Market] The downstream demand is favorable, the inventory continues to decrease month on month, and the production enthusiasm of steel plants is high (data from the National Bureau of Statistics: from January to February, China's crude steel output was 174.989 million tons, a year-on-year increase of 12.9%, and the average daily output was 2.966 million tons), which guarantees the demand for ferrosilicon. However, with the strict implementation of environmental protection and production restriction policies in Tangshan and other places, the output has decreased since March, and the ferroalloys inventory of some steel plants is relatively high. It is expected that the demand for ferroalloys may be weakened in the short term.

[Magnesium Market] This week, the domestic magnesium market continued to operate stably, with little factory inventory and few downstream transactions. However, the price of raw material ferrosilicon has been loosened slightly, which has brought some pressure on the price of magnesium metal. The cautious mood is not reduced. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 15300-15500 yuan per ton.

 

 

  • [Editor:kangmingfei]

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