[Ferro-Alloys.com]Weekly Report of Ferrosilicon Market (6.21-6.25)
[Review of this week] The Ministry of Industry and Technology Information of Alxa League released implementation plan of eliminated outdated production facilities and forestall and defuse excess capacity facilities in 2021-2023, which asked before the end of 2022, 25 million KVA and below ferroalloy furnace shut down, eligible upgrade of capacity reductions after the replacement of more than 30 million KVA furnace. Calcium carbide furnace VA 30 million, eligible upgrade of capacity reductions after the replacement of more than 40 million VA furnace.
[Bidding] The bid of ferro-silicon ended in June, and began in July, which has announced tender prices have risen last month, but the rate of increase in the range from 100-600 yuan per ton, more benefit supporting.
[Spot market] Market News, Fugu plan was discontinued on June 25 in a factory overhaul is expected to spending 20 days, the estimated effects of magnesium production of 1100 tons, ferrosilicon production of 1400 tons, 75# ferrosilicon in Shanxi Province that has seen rise this week. Biding gradually expanded in July, futures continue to small rise this week, the factory still single production line,
[Steel market] The Association publishes data, 64 in the May 2021, the World Steel Association countries of the world crude steel production of 174.4 million tons, an increase of 16.5 per cent. Current, mill’s product remains strong side, improved yield. But as the season features, demand has fallen, steel prices inched down.
[Magnesium] The beginning of the week, magnesium prices high, but due to little demand, customer acceptance of high prices are not high, magnesium cut prices under pressure. In addition to just demand client, downstream users followed a policy of buying up not buying -- psychology, take a wait - and - see attitude. Therefore, the volume isn't enough. But due to rising coal prices, cost constraints, magnesium prices may be slightly downward. Current, 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 19500 yuan per ton.
[Futures] Opening price of ferrosilicon futures 2109 contract of this week was 7,938, highest price was 8,424, lowest price was 7,938, closing price was 8,386 and the settlement price was 8,236. The trading volumes were 1,411,614 and the positions were 575,459.
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