[Ferro-Alloys.com] In June, the 75B ferrosilicon bidding volume of HBIS steel plant was 3566 tons, an increase of 630 tons on a month basis, the bidding price was 8500 yuan per ton, and the month on month increase was 800 yuan per ton.
The rising price of steel bidding, the strong futures market, which have driven the market sentiment of ferrosilicon to be good, and the manufacturers are confidence to the market, the price is growing. Spot market are in short supply, manufacturers are reluctant to sell at low price. The spot market will be stable in short term with a high probability. But according with online research from Ferro-Alloys.com, there are cold thought companies holds that the ferrosilicon market will have a weak momentum if price keeps rise.
Opening price of ferrosilicon futures 2109 contract of this week was 8,080, highest price was 8,788, lowest price was 8012, closing price was 8,728 and the settlement price was 8,596. The trading volumes were 2,635,955 and the positions were 1,111,564.
This week, volatility in the steel market, up and down were intertwined. Output was stable, consumption was grew and stock was decrease, the market maybe volatility in small degree in short term.
Earlier this week, the domestic magnesium market was rose slightly than last week, purchase and turnover situation became better. The source of low-cost goods were rare, however the tends still be good. On Tuesday and Friday, the magnesium price soared by 1000 yuan per ton. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was more than 19000 yuan per ton.
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