Weekly Report of Ferrosilicon Market (June 20-24, 2022)

Weekly Report of Ferrosilicon Market (June 20-24, 2022)

  • 2022年06月24日 15:55
  • 来源:Ferro-Alloys.com

  • 0
  • 关键字:Ferrosilicon Market,steel market,magnesium market
[导读]This week, the domestic ferrosilicon market continued to be weak, both the futures and spot price continued to fall.

This week, the domestic ferrosilicon market continued to be weak, both the futures and spot price continued to fall, and the pessimism was strong. Since this year, the domestic ferrosilicon production has been relatively stable, with high monthly output. Although there was export support in the downstream, the domestic demand was weak. Some manufacturers said that they delivered according to orders and had a small inventory. On June 22, the Silicon Committee of China Ferroalloy Industry Association held the second video meeting in 2022, calling on ferrosilicon enterprises to pay more attention to their own technology and equipment upgrading under the current market environment, form a joint force, orderly overhaul and reduce production, and "getting through the winter" together.

The weekly opening price of 2209 main contract was 8,500, the highest price was 8,554, the lowest price was 8,132, the closing price was 8,306, the settlement price was 8,276, the trading volume was 1,018,155, and the position was 148,927, down 4.59%.

Below are ferrosilicon futures main contract daily specific performances:

Date

Opening price

Highest price

Lowest price

Closing price

Settlement price

Trading volume

Positions

Range

6.20

8500

8520

8168

8314

8290

247031

161934

-4.50%

6.21

8400

8554

8294

8298

8408

203848

144474

0.10%

6.22

8280

8362

8132

8182

8264

177076

164031

-2.69%

6.23

8316

8446

8214

8390

8336

210840

145756

1.52%

6.24

8300

8368

8192

8306

8276

179360

148927

-0.36%

In the downstream, according to the data of CISA, in mid-June 2022, the key iron and steel enterprises produced 22.5789 million tons of crude steel, with a daily output of 2.2579 million tons of crude steel, a month on month decrease of 1.34%. At the end of mid-June, the steel inventory was 20.5232 million tons, an increase of 1.9758 million tons or 10.65% over the previous ten days; An increase of 545800 tons or 2.73% over the same period last month; An increase of 2.5808 million tons or 14.38% over the end of last month; An increase of 9.2264 million tons over the beginning of the year, an increase of 81.67%; An increase of 4.8262 million tons or 30.75% over the same period last year; An increase of 2.6393 million tons or 14.76% over last year's highest point (17.8839 million tons in the first ten days of March). At present, the steel market has obvious off-season characteristics, the demand continued to be weak, the steel mills have generally fallen into a state of loss, the market sentiment was depressed, the maintenance and production reduction was intensified, and the short-term steel price may run in a weak and volatile situation.

This week, the domestic metal magnesium market continued to be weak, the downstream mainly purchasing on demand, lacking the support of good news, and the operating pressure remained. Considering that the magnesium price was close to the cost line, and the high temperature and rainy season was coming, some magnesium plants began to arrange maintenance. The plants had a strong willingness to support the price, and it was expected that the steady-state operation would continue in the short term. On Friday, 17th, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 25500 yuan per ton.

  • [责任编辑:kangmingfei]

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