[Ferro-Alloys.com] The Chinese ferro-silicon market softened over the past week in line with weaker demand, in turn fueling expectations of further price weakness in the near term.
In Europe, however, the ferro-silicon market was steady after recording a small bounce in the prior week after suppliers held their offer prices ahead of expected uptick in demand. Chinese market prepares for further losses, Europe awaits return of steelmakers, US market tumbles amid renewed activity.
Chinese ferro-silicon price falls on weak demand, Fastmarkets'price assessment for ferro-silicon 75% Si min, in-whs China stood at 6,200-6,400 yuan ($885-906) per tonne on Wednesday August 7, down by 300 yuan per tonne, or 4.5%, from 6,500-6,700 yuan per tonne a week earlier. The price decline had been expected given the market’s weakened fundamentals, sources told Fastmarkets. “There wasn’t strong support for high prices a few weeks ago [when the market was running higher]," a trader in China said. The price of ferro-silicon in China spiked higher toward the end of June, rising from 5,900-6,100 yuan per tonne on June 21 to 6,500-6,700 yuan per tonne on July 11. (Metalbulletin)
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