This week, the ferrosilicon Futures fluctuated downward, and the spot price rose by a small margin of around 100 yuan per ton. The supply side of ferrosilicon began to be tight, and there was no obvious pressure on shipment. Some enterprises in Zhongwei region of Ningxia started to resume production, but the overall recovery rate was still relatively limited, and the wait-and-see mood was strong. HBIS Group set its tender price at 8200 yuan per ton in September, up 200 yuan per ton month on month; The quantity was 2400 tons, an increase of 300 tons month on month. The tender price rose, the steel plants began to prepare goods before the National Day holiday, and the cost end of the price of semi-coke decreased (the ex-factory price of small-sized materials was about 1550-1600 yuan per ton), which was expected to further promote the recovery of ferrosilicon enterprises. In general, the ferrosilicon market has recovered, but on the other hand, the steel mills were still under the pressure of loss, and the stock of raw materials was still low. In addition, the peak demand season may be lower than the market expectation, and the Futures market fluctuated. It was still necessary to pay attention to the progress of production recovery, downstream demand and Futures market trend.

In terms of downstream steel, the output continued to rise. According to the data of CISA, in the first ten days of September 2022, the key steel enterprises produced 20.9816 million tons of crude steel, with a daily output of 2.0982 million tons, an increase of 3.26% month on month; In the first ten days of September, the steel inventory of key iron and steel enterprises was 17.0645 million tons, an increase of 1.1215 million tons or 7.03% over the last ten days (the end of last month); An increase of 14200 tons or 0.08% over the same ten day period last month; 5.7676 million tons more than the beginning of the year, up 51.06%; Compared with the same period last year, it increased by 3.7407 million tons, or 28.08%. In the traditional peak season, the overlapping property market policy during the construction period in September has been further relaxed, and the demand for steel was still supported, but the inventory has also increased this week. The market sentiment was cautious, the steel price fluctuated frequently, and there was little room for either rise or fall.

At the beginning of this week, due to the failure of the demand side to continue to follow up, few inquiries for procurement, and the lack of support from other favorable factors in the market, the magnesium price fell back slightly under pressure; At the end of the week, the factory's willingness to stabilize prices was strengthened, and prices remained stable. It was expected that the magnesium market would operate stably in the short term with small fluctuations, and pay attention to the demand follow-up. On Friday, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 24500 yuan per ton.

The weekly opening price of 2210 main contract was 8,244, the highest price was 8,396, the lowest price was 7,866, the closing price was 7,916, the settlement price was 7,928, the trading volume was 434,888, and the position was 20,128, down 2.97%.

Below are ferrosilicon Futures main contract daily specific performances: