Weekly Commentary on Ferrosilicon Market (2.10 -2.14): Stand Together to Fight Coronavirus

  • Friday, February 14, 2020
  • Source:ferro-alloys.com

  • Keywords:Ferrosilicon Market
[Fellow]HBIS released ferrosilicon 72# tender price of February as 6900 yuan per ton, an increase of 750 yuan per ton on January, and the tender volume was 1050 tons, down by 863 tons vs. the last month.
 
[Steel Mills Tender] HBIS released ferrosilicon 72# tender price of February as 6900 yuan per ton, an increase of 750 yuan per ton on January, and the tender volume was 1050 tons, down by 863 tons vs. the last month.
 
[Spot Market] Due to the weaker down-stream demand, and the difficult traffic, there were few deals on ferrosilicon market, and some of the suppliers didn't quote temporarily. On the other hand, raw materials cannot be supplied in time resulted from the traffic so the productions were influenced, too. But most big plants maintain normal production to fulfill the orders, according to the market research by Ferro-Alloys.com.
 
[Spot Price] Under the influence of all the advantageous factors, presently, quoted price of ferrosilicon 72# of big plants was around 6300-6400 yuan per ton and ferrosilicon 75# was around 6500-6600 yuan per ton. The quoted price of minor enterprises would be a little less than that.
 
[Ferrosilicon Futures 2005 contract] Opening price of ferrosilicon futures 2005 contract was 5922, highest price was 5976, lowest price was 5822, closing price was 5832 and the settlement price was 5836. The positions were 60733 and the trading volumes were 174767.
 
Below are ferrosilicon futures main contract 2005 daily specific performances:
 

Date

Opening price

Highest price

Lowest price

Closing price

Settlement Price

Trading volume

Positions

2.10

5922

5932

5892

5898

5908

26460

76588

2.11

5908

5950

5848

5948

5924

42429

76523

2.12

5968

5976

5890

5910

5918

38750

72112

2.13

5920

5922

5824

5864

5870

43110

63778

2.14

5870

5870

5822

5832

5836

24018

60733

 
[Stand Together to Fight Coronavirus] What should be noticed is that, ferrosilicon plants, including Dragon Northwest Ferroalloy Co., Ltd. and Erdos Group and others are standing together to fight coronavirus. On one hand, they produce and transport safely, and on the other hand, they contributed goods and materials which were needed at the frontlines.
 
[Steel Mills] Due to the coronavirus, the manufacturing and construction industries delayed return to go into operation, and the downstream demand for steel declined. Plus the difficult traffic, the transactions reduced and the price decreased, too. Many steel mills cut productions. The pessimistic market was partially caused by the coronavirus of course, but it was also the result of the shakedown period during the slack season.
 
Confronting the coronavirus, steel mills also united to battle it. They pushed on intelligent manufacturing and transportation to keep the market stable. And meantime, they dominate goods and materials to offer support to win the fight.

  • [Editor:kangmingfei]

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