[Market information] It is reported that the silica mines in Qinghai Province will carry out inspection, and some manufacturers have slightly increased their quotations, which is expected to boost market confidence to a certain extent. However, the overall impact on ferrosilicon is not clear.
[Spot market] This week, the ferrosilicon spot market kept stable, and the inventory of manufacturers was low. Although the market performance is still unsatisfactory, the manufacturers have strong willingness to support prices. According to Ferro-Alloy.com, there are manufacturers in Inner Mongolia who quoted about 5600-5700 yuan per ton for 72 # ferrosilicon. It is expected that the ferrosilicon market will remain stable in the short term. Focus on the changes in the supply-demand relationship and the futures market trend, and focus on the steel bidding in September (the steel bidding price in September is expected to raise).
[Ferrosilicon futures 2010 contract] Opening price of ferrosilicon futures 2010 contract of this week was 5,710, highest price was 5,876, lowest price was 5,652, closing price was 5,824 and the settlement price was 5,816. The positions were 66,505 and the trading volumes were 463,165.
[Steel market] In August, the restriction of weather on the demand of rebar market is gradually weakening, and the rebar market is gradually warming up. On the one hand, the production of screw thread steel continues to be at a high level, and the capacity utilization rate of blast furnace and electric furnace is difficult to decline in the short term, and the demand for ferrosilicon in steel mills remains optimistic. On the other hand, once the demand falls short of supply, the rebar stock may accumulate again.
[Metal magnesium market] The metal magnesium market continued to be weak stably, domestic and foreign demand market is still relatively weak, and new orders and turnovers were less, pessimistic sentiment was strong. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 12800-12850 yuan per ton.
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