[Ferro-Alloys.com]= Price of FeV continues rising drastically, and prices of Chinese FeSi and SiMn continue declining =

The market trend of import of ferroalloy as of 27 April 2016 is as follows.

 

<> Silicon Metal = The price of silicon metal in China stopped declining in the middle of April and continues to remain unchanged even at the present moment. While there is no big movement in the domestic demand, the operating rates of the producers do not go up drastically, either. In addition, it is unclear when the electricity rate for a full-water season will be applied, and the price remains stable owing to the purchase by the customers which cannot have a feeling of an anticipation of a price fall.

 

In the Japanese domestic market, there are some customers which float a tender for May shipment before the consecutive holidays, but many of the shippers struggle with a price which stopped rising in China. Currently, the contract price of 5.5.3 grade product is almost same as the one in the middle of April.

 

<> Ferro-silicon = In China, the price of ferro-silicon continues declining, and the prices of products with Si being 75% and 72% are down by CNY450 - CNY500 and down by CNY300 - CNY450 respectively from the end of March. The steel product price in China takes an upward turn, but the steel mills lower the purchase prices of ferro-silicon and silico manganese from the ones in the period from March to April.

 

As to the price of Chinese ferro-silicon in the Japanese market, the offer and contract prices of regularly exported product are down by US$20 and US$10 respectively due to a lowered price in China. There is a difference among the prices of products distributed in the market depending on the customers as the spot goods of roundabout products continue to be scarce, and some shippers made a contract with a price increase of US$5, whereas some shippers at last could make a contract with a price decrease of US$5, which led to an enlarged difference between higher and lower quotations. However, a bid at around US$900 continues to be submitted in the steel mills' tenders, and the shippers which wish to purchase such cheap products are looking for the distribution route. It is a major anticipation the restart of distribution via Vietnam will take another time. 

 

The price of Russian product was lowered as is the case in the last time. Both offer and contract prices are down by US$30 from the end of March. Against a background of weak ruble, the price is showing a different movement from other sources. 

 

<> Silico Manganese = The retail price of manganese ore becomes stable also in India, and the price of silico manganese drops due to the adjustment of a high price. While the producers' offer price at around US$900 per ton is prevailing, the offer at more than US$950 is occasionally seen in some areas, for which the price downward pressure is strong in the Japanese domestic market, and the contract price is down by US$5 - US$10 from the middle of April.

 

In China, the price continues to decline with a small range, and the main price of Inner Mongolian product is CNY5,250 - CNY5,400, down by CNY350 - CNY400 from the end of March. This price fall is equal to US$55 - US$60 in U.S. currency. The main price cut for Chinese steel mills' May purchase is CNY350 from the prior month. There are some opinions that the drop in the retail price of manganese ore which was thought to be a reason for a price cut of silico manganese stopped at the end of March, and some persons involved analyze that the reason for current price cuts is a decreased production of crude steel. The export of Chinese silico manganese to Japan did not seem to be contracted this time, either.