[Spot market] As the transportation eased and the tender volumes decreased this week, the ferrosilicon price decreased. But under the influence of the coronavirus, the downstream demand stayed soft and turnovers remained rare. It’s expected that the ferrosilicon price would be difficult to raise in a short run.

[Spot price] This week, the ferrosilicon 75# quotation of big plants in the major producing areas is around 6300 yuan per ton and 72# was 6000-6100 yuan per ton, while the medium and small enterprises’ quotation was down by 300 even 500 yuan per ton 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 in this week:

[Steel] Most construction and manufacturing enterprises delayed resumption to the work due to the coronavirus, which caused the demand for steel declined, and the steel inventories rose quickly and steel price decreased. This week, as many industries resumed to work, the demand for steel may recover which will boost the market confidence to some extent. But currently, fighting the coronavirus is still the most important task, then it would take some time before the demand recovering. What’s more, the raw materials like iron ore prices are high, and the steel mills should arrange production reasonably as well as strengthen the efforts to cut the cost and increase efficiency.

• [Editor:kangmingfei]