[Ferro-Alloys.com] 

[Market trend] Shenmu Semi-coke Group held a market research meeting and transmitted two market signals, the one was to adjust the semi-coke price according to the current coal price; the other was to cut production to 30% to consume the overstocked inventory.

[Spot market] Ferrosilicon tender of steel mills continued. For ferrosilicon market, neither the downstream demand nor the market activity was satisfactory, the speed of inventory consuming slowed down, and the price didn’t change much without strong support. It would run weakly stable in a short run.

[Ferrosilicon Futures 2005 contract] Opening price of ferrosilicon futures 2005 contract was 5560, highest price was 5654, lowest price was 5472, closing price was 5590 and the settlement price was 5560. The positions were 39168 and the trading volumes were 346374.

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

[Steel] The profit of steel mills with long process flow and electric furnace steel increased for these several weeks and then the operating rate followed and increased. People thought the supply side would be under further pressure if things go on like this. On the other hand, although the steel stocks dropped for weeks, the whole stocks were much more than the same period of past years. It was expected that it would take 6-8 weeks to consume the steel stocks to be flat with the past years. At present, steel price was still under pressure with high inventory.

[Metal Magnesium] More and more metal magnesium plants cut their productions and tried to ensure the price, for now, the effect gradually appeared with the downstream mood and transaction getting better and the price of metal magnesium increased slightly. But after all, the actual demand reduced, which made the metal magnesium metal price cannot see a huge rebound for a short term. The cash offer of 99.9% magnesium ingot in Fugu was 13000 yuan per ton.

• [Editor:kangmingfei]