[Steel Tender] Steel tender of March kept slowly moving and showed as pessimistic as expected. This week, the big steel mill in North China released its tender volume and inquiry price of March, which was 2273 tons (up by 1223 tons from last month and down by 1277 tons YoY) and 5700 yuan per ton (the final tender price would be higher than that, but not much).

[Spot market] Key word of ferrosilicon market of this week was: Inventory pressures. Statistic showed that February inventories of domestic ferrosilicon plants were over 400 thousand tons, up by almost 50% vs. last month and over 150% year on year. Although the ferrosilicon price was already near the cost line, analyst of Ferro-Alloys.com thought it would continue drop under the present unbalance of supply-demand. If the operation rate kept high, the price was likely to continue to fall.

[Spot price] Ferrosilicon 72# quotation in major producing areas was around 5450-5500 yuan per ton, while ferrosilicon 75# quotation was around 5700-5800 yuan per ton.

[Ferrosilicon Futures 2005 contract] Opening price of ferrosilicon futures 2005 contract was 5598, highest price was 5634, lowest price was 5540, closing price was 5596 and the settlement price was 5592. The positions were 63575 and the trading volumes were 184505.

Below are ferrosilicon futures main contract 2005 daily specific performances in this week:

[Steel] More and more enterprises resumed work but construction-related industries resumed slowly. It may not recover until late-March even April, experts said. The actual capacity utilization of blast furnace of last week was 79.3% and down by 0.4%. And the actual capacity utilization of electrical arc furnace was 7.68% and up by 4%, which increased the supplies of rebar.