The Ferrosilicon Futures continued to fall this week. The opening price of 2303 main contract was 8416, the highest price was 8456, the lowest price was 8136, the closing price was 8234, the settlement price was 8220, the trading volume was 574293, and the position was 171802, a decline of 2.56%. The spot quotation has not changed much, maintaining a relatively firm and stable operation. According to Ferro-alloy.com, the quotation of 72# ferrosilicon was about 8200-8300 CNY/T. Most large and medium-sized manufacturers in the main production area had almost no stock before Spring Festival, and the order has been placed until next month. In January, the tender price of 72# ferrosilicon of HBIS Group rose slightly by 50 CNY/T to 8750 CNY/T, higher than expected. The market direction was clear, confidence was boosted, and the mood was relatively stable. Pay attention to the performance of both the supplier and the demander and the market trend of Futures.

Below are Ferrosilicon Futures main contract daily specific performances:

With the approaching of the Spring Festival, the production of steel plants was reduced due to maintenance, while the actual demand for steel was further weakened. The market turnover was light, the mood was poor, and the inventory wais accumulated seasonally. According to the data of China Iron & Steel Association, in late December, the social stock of five major varieties of steel in 21 cities was 7.52 million tons, an increase of 160000 tons on a month-on-month basis, up 2.2%; It was 130000 tons more than that in late November, up 1.8%. Under the pattern of weak supply and demand, it was difficult for prices to fluctuate significantly in the short term. However, the market was optimistic about the economic boosting measures and development situation in the new year. They believed that after February, the market demand would increase to a certain extent after a smooth transition period, and prices were easy to rise but difficult to fall. Most people were cautious and optimistic.

In terms of magnesium metal, in the first working week of 2023, with the increase of downstream transactions, the market turnover improved, the factory shipments were good, the willingness to support prices was enhanced, and the quotation rose by 100 CNY/T. The magnesium market started steadily in the new year, and the market was strong and positive. On Friday, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 21700-21800 CNY/T. However, the supply and demand pattern has never changed substantially, the magnesium market was stable in the short term and strong in the medium term, but the expected range was limited. Focus on demand.

• [Editor:kangmingfei]