This week, ferrosilicon Futures stopped falling and rebounded, and the spot price was stable and slightly increased. At present, the production recovery in the production area was slow, the supply was relatively low, and the transaction was light. Some steel mills were leading the way in purchasing. The price of the new round of tender was currently 7900-8000 yuan per ton. There was a strong wait-and-see mood in the downstream, and the market mentality was cautious, waiting for the representative steel mills to set the tone. The transportation in Shenmu area of Shaanxi Province was limited recently, and the price of semi-coke rose slightly, but the specific impact has not been clearly reflected. In the absence of news stimulus, the short-term ferrosilicon market would continue to operate weakly and stably. Pay attention to the progress of steel tender, Futures trend and the performance of the upcoming "September-October" traditional peak season.

 

On the downstream side, the latest data of CISA showed that in the middle of August 2022, the key iron and steel enterprises produced a total of 19.9627 million tons of crude steel, with a daily output of 1.9963 million tons, an increase of 2.72% month on month; The inventory of key iron and steel enterprises was 17.3292 million tons, an increase of 278900 tons or 1.64% over the previous ten days; An increase of 732600 tons or 4.41% over the end of last month; A decrease of 1702100 tons or 8.94% over the same ten days of last month; An increase of 6032300 tons or 53.40% over the beginning of the year; An increase of 2.395 million tons or 16.04% over the same period last year. In 21 cities, the social inventory of 5 major varieties of steel was 9.74 million tons, a month on month decrease of 540000 tons, a decrease of 5.3%, and the inventory continued to decline; An increase of 1.86 million tons over the beginning of the year, an increase of 23.6%; A decrease of 2.41 million tons or 19.9% over the same period of the previous year. At present, the supply side was gradually picking up, the apparent demand has not improved significantly, and it’s hard for the steel market to go up. However, the traditional peak season of " September-October " was coming. With the support of a series of stable growth measures, many people in the industry still have confidence in the following days.

 

In terms of metal magnesium, after the rapid rebound last week, the domestic magnesium market has suffered a slight weakening under the insufficient demand follow-up and light transactions this week. However, considering the strong desire of the factory to stabilize the market and the recent impact on the transportation of relevant regions in Shaanxi, it was also difficult for the magnesium price to drop significantly. It was expected that the short-term magnesium market would mainly operate stably with small consolidation. On Friday, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 24000 yuan per ton.

 

The weekly opening price of 2210 main contract was 7,500, the highest price was 8,274, the lowest price was 7,424, the closing price was 8,258, the settlement price was 8,144, the trading volume was 968,162, and the position was 153,082, up 12.23%. 

 

Below are ferrosilicon Futures main contract daily specific performances:

Date	Opening price	Highest price	Lowest price	Closing price	Settlement price	Trading volume	Positions	Range
8.22	7500	7712	7424	7676	7576	179682	139864	4.32%
8.23	7658	7800	7658	7736	7742	164448	132744	2.11%
8.24	7816	7850	7666	7786	7746	138286	133174	0.57%
8.25	7804	8064	7712	7944	7904	241199	138988	2.56%
8.26	7904	8274	7904	8258	8144	244547	153082	4.48%