[Ferro-Alloys.com]

[Ferrosilicon Market] At the beginning of March, driven by the futures, the market sentiment was relatively changeable, and the downstream purchasing end was cautious and wait-and-see, but the manufacturer's inventory was small, with a slight increase in the price of raw material semi-coke (small-sized materials were 1530 yuan per ton) and good export orders, the spot quotation remained strong; In the second week of March, the futures market trend was strong, with the highest price broke 10000 for several successive days. Shenmu Semi-coke Group issued a notice of price adjustment for its production and at the same time, freight rates increased, and the spot quotation increased significantly. And many manufacturers did not offer for the time being, because they were optimistic about the market expectation; And then, the next week, the futures returned to a rational range, and the price of semi-coke decreased slightly with the decline of coal price; In the last ten days, a new round of steel tender was launched one after another, with the price mostly around 9800-9900 yuan per ton. The procurement volume of representative steel mills was 2080 tons, an increase of 282 tons month on month. Pay attention to the final pricing.

On the whole, the ferrosilicon supply side remained stable in March, with normal production, and the output was expected to reach 550000 tons. However, many manufacturers still said that especially 75# ferrosilicon contract volume was large, overseas demand situation was good, and export prices rose, manufacturers had a strong attitude of stabilizing prices, low willingness to ship at low prices, and market confidence was good.

[Futures Market] The opening price of 2205 main contract of ferrosilicon futures in March was 9,028, the highest price was 10,450, the lowest price was 9,028, the closing price was 9,984, the settlement price was 9,938, the trading volume was 5,081,922, and the position was 118,897, an increase of 11.16%.

[Ferrosilicon Exports] According to data of China Customs, from January to February 2022, China exported 112752.688 tons of ferrosilicon (containing by weight more than 55% of silicon), a year-on-year increase of 194.27%. The exports in January were 68504.796 tons, an increase of 233.71% year-on-year and 15.15% month on month and the exports in February were 44247.892 tons, an increase of 148.76% year-on-year and a decrease of 35.41% month on month.

[Steel Market] At the beginning of March, with the end of the Winter Olympics and the gradual reduction of the production restriction impact of heating season, although some steel mills arranged routine maintenance, the steel supply side gradually recovered, the terminal demand continued to pick up, the transaction situation of steel mills improved and the profit was OK; In the second week of March, driven by the impact of the international environment and better demand, the steel market rose simultaneously, but due to the sluggish transaction, there was a correction soon; In the middle and late March, due to the strengthening of local prevention and control, construction site slowed down, some steel mills began to overhaul and reduce production due to insufficient supply of raw materials, and the steel market was weak, but the overall supply was still expected to rise; At the end of the month, the control management was gradually lifted in some areas of Tangshan, and the resumption of production was expected to speed up. In the later stage, with the improvement of local control, it was expected that the downstream demand would be released in a large area.

[Magnesium Market] In March, the domestic metal magnesium market went out of a rare stable track, the ex-factory cash quotation including tax of 99.9% magnesium ingots in Fugu area was about 40000-41000 yuan per ton all the month. From the perspective of supply-demand relationship, downstream procurement was mainly on demand, there are few \transactions, and the favorable factors were limited; The factory side considered the impact of environmental protection policies, with little capital pressure and strong willingness to stabilize the price. In the short term, the magnesium market may continue to be in consolidation operation.

• [Editor:kangmingfei]