[Ferro-Alloys.com]

[Raw Material] The ex-factory quotation for small-sized semi coke was about 1180-1280 CNY/T; The factory price of silica was around 220-260 CNY/T; The price of oxide skin was around 950-980 CNY/T; The electricity prices in the main production areas ranged from 0.39 to 0.48 CNY//kWh.

[Spot Market] In November, HBIS Group tendered 1863 tons of 75B ferrosilicon, a decrease of 1447 tons compared to October (the total amount in October was 3310 tons). At present, the overall production was stable, but downstream demand has been running at a low level. Under cost support, manufacturers had a low willingness to ship at low prices. This week, the quotation for 72# ferrosilicon standard blocks was mostly around 6850-6950 CNY/T, while the quotation for 75# ferrosilicon standard blocks was around 7300-7500 CNY/T. Short-term prices were expected to fluctuate mainly in a narrow range.

[Futures Market] This week, the futures market has been on a steady upward trend, with a peak opening price of 6914, a highest price of 7230, a lowest price of 6780, a closing price of 7154, a settlement price of 7166, a position of 403187, a trading volume of 877956, and a transaction amount of 30.9173 billion yuan, an increase of 3.71%.

Below are Ferrosilicon Futures main contract daily specific performances:

[Demand Market] This week, driven by the continued rise in futures increased maintenance in steel mills, the spot market slightly improved, and the total inventory decreased for five consecutive weeks, giving market confidence a certain boost. However, the demand in the off-season continued to be weak, and downstream acceptance of high prices was relatively low, so there was still pressure on steel prices to rise. In the short term, the steel market was prone to strong fluctuations, but it was expected that there was limited room for improvement.

In terms of metal magnesium, the domestic magnesium ingot market has been fluctuating this week, with magnesium prices rising from 21000 CNY/T on Monday to 21300 CNY/T on Wednesday. On Friday, under the influence of the "resumption of production" news, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots in Fugu area dropped to around 21000-21200 CNY/T. Overall, under the oversupply pattern, downstream procurement had a strong wait-and-see sentiment, and it was difficult for the magnesium market to improve significantly in the short term. Pay attention to the progress of transactions and downstream follow-up.

• [Editor:kangmingfei]