Weekly Commentary on Ferrosilicon Market (9.2-9.6)

  • Friday, September 06, 2019
  • Source:Ferro-Alloys.com

  • Keywords:ferrosilicon, futures, spot
[Fellow]Steel mills' lower tender price and volumes brought some pessimism to the factories and traders.

 [Ferro-Alloys.comFerrosilicon market was little fluctuated this week, but steel mills' lower tender price and volumes brought some pessimism to the factories and traders. Currently, the supplies were abundant but downstream steel mills' demand decreased due to reduction of output. What's more, the high transportation cost also made factories to expect price higher but not to close deals at low price.

Steel: In the peak season September, steel market was getting better and better. Factories were more and more optimistic with the tight supplies and less inventories which were caused by reduction of output.

Magnesium Metal: Fluctuated little, too. The market was oversupplied overall, spot goods were abundant and demand was soft, there were not many deals. Most people were in a wait-and-see mood with little confidence.  We also learned that the cost of raw materials was increased, which left limited space for the price dropped. The magnesium metal market may stay steady in a short term.

Silicon Metal: On the supply side, both the offer price and delivery are getting steady, stockpiles were not too many and factories expected price higher. But on the demand side, prudent purchasers decreased the likelihood of magnesium metal price increasing. It was expected that the magnesium metal would be steady in a short run.

Ferrosilicon futures market: Ferrosilicon futures market continued running weakly this week, positive factors still not approached for the present.

Below are ferrosilicon futures main contract 2001 daily specific performances:

Date

Opening price

Closing price

Range %

Settlement Price

Trading volume

September 2nd

6100

6154

1.02

6174

98504

September 3rd

6092

6100

1.20

6106

45310

September 4th

5846

5846

0.17

5842

52204

September 5th

5880

5810

0.55

5838

67280

September 6th

5812

5860

0.38

5850

57742

 
 
  • [Editor:kangmingfei]

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