[Ferro-Alloys.com] 

In May, the price of steel bidding was from low to high. 75B ferrosilicon bidding volume of representative steel plant was 2936 tons, an increase of 604 tons on a month basis, the price of the first round of inquiry was 7500 yuan per ton, and the month on month increase was 600 yuan per ton.

The rising cost of raw materials, the strong futures market, the rising price of steel bidding, and the considerable situation of magnesium in the downstream have driven the market sentiment of ferrosilicon to be good, and the manufacturers are willing to support the price.

Opening price of ferrosilicon futures 2105 contract of this week was 7,800, highest price was 8,548, lowest price was 7,712, closing price was 8,062 and the settlement price was 8,058. The trading volumes were 3,116,065 and the positions were 167,542.

As for the steel market, in the past one month, iron ore, hot roll and some other varieties have increased by more than 30%. On Friday, the rising steel market weakened as iron ore fell and faced a phased adjustment.

And the domestic magnesium market soared this week under the multiple favorable conditions of high raw material prices, spot shortage and demand support. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was more than 21000 yuan per ton

• [Editor:kangmingfei]