[Ferrosilicon Bidding] The bidding price of ferrosilicon in November of HBIS Group was 6170 yuan per ton, up 50 yuan per ton month on month. In November, the bidding price rose month on month, and the quantity was generally stable.

[Raw Material Price] On November 8, 2020, Shenmu Lantan Group Co., Ltd. issued the notice on price adjustment of semi-coke. It is suggested that from 0:00 on November 11, 2020, the price of large-size semi-coke should be 750 yuan per ton, medium-size 730 yuan per ton and small-size 700 yuan per ton, including tax.

[Spot Market] This week's ferrosilicon market is still dominated by favorable factors: the price of raw materials, such as semi-coke, is adjusted (the production cost of ferrosilicon is predicted to increase by more than 50 yuan per ton); the overall spot production is still limited; the steel bidding price is rising, the demand of steel mills is relatively stable, and the price of some main production areas is slightly increased by 50 yuan per ton, which is expected to remain stable in the short term. Focus on the change of supply and demand relationship, the change of futures market and the trend of raw material price.

[Ferrosilicon Futures 2101 Contract] Opening price of ferrosilicon futures 2101 contract of this week was 6,020, highest price was 6,040, lowest price was 5,888, closing price was 5,916 and the settlement price was 5,912. The trading volumes were 386,836 and the positions were 65,990.

[Steel Market] This week, the blast furnace operating rate continues to be high, while the inventory continues to decline, the inventory pressure has eased, and the apparent demand has improved significantly. It is expected that the downstream demand will continue to be stable in November. If the inventory continues to decline, "high inventory pressure" is expected to be less, and it is expected that steel prices will continue to be strong shocks in the near future.

[Metal Magnesium Market] Under the support of high cost (raw coal and ferrosilicon prices remain high), the magnesium market continues to run steadily and firmly this week, with the overall stability of the supply side, and the demand for ferrosilicon has not changed much. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 12600-12800 yuan per ton.

• [Editor:kangmingfei]