[Bidding] In July the HBIS Steel Group ferrosilicon bid price at 8700 yuan per ton, rose $200 per ton from last month; and it purchase 2060 tons, 1506 tons less than last month.
[Spot market] This week the domestic market as a whole, ferrosilicon running steady, with a little fluctuation. Manufacturers are single production line, downstream demand is relatively stable, is still in a state of supply-side in shortage, the short term is expected to continue running smoothly. Market Inspectorate of environmental protection in northwest news this week settled in Qinghai in Ledu, the subsequent impact on it – Ferro-alloys will continue attention
[Steel market] Under the influence of factors such as environmental policy, part of the steel mill blast furnace Production maintenance, resulting obvious impact on steel production, stocks fall while spot prices rose. Under the influence of the cold season, downstream demand is low. Deformed steel bar production has continued to decline, rising price shocks.
[Magnesium] Owing to the hot weather and environmental policies, part of furnace in steel mills were stop work to undergo repair, which causing a lot of impact on the production of Magnesium. Spot goods were few, most of them are in higher price. Downstream customer were reluctant to purchase or stay in a calm position to wait a change. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was more than 19300-19400 yuan per ton.
[Futures] Opening price of ferrosilicon futures 2109 contract of this week was 7,998, highest price was 8,376, lowest price was 7,906, closing price was 8,250 and the settlement price was 8,232. The trading volumes were 512.799 and the positions were 173,882.