Weekly Commentary on Ferrosilicon Market (7.8-7.12): Ferrosilicon Price Rises

  • Monday, July 15, 2019
  • Source:ferro-alloys.com

  • Keywords:ferrosilicon, magnesium, iron ore, silicon, steel
[Fellow]The Trading Volume was fluctuated but overall increased, especially on Friday.

 [Ferro-Alloys.comSpots Market:

Ferrosilicon: The major steel mills released tender price last week and most of them increased the tender price.

This week, steel mills continued purchasing ferrosilicon and the market entered the time of delivery.

Early this week, price of ferrosilicon changed little from last Friday, but the spot inventories were short andlow-price supplies were less, the whole market were running strong, suppliers' confidence improved. The priceof spots had a support and was expected to rise.

On Thursday and Friday, the price of ferrosilicon increased around 300-500 RMB/T due to envernmental policy,power brownout, logistics costs increased and others. Several factories even planned to cut or stopproduction.

Iron Ore: After a sharp fall on last Thursday and Friday, the iron ore showed a trend of stabilization andrebound. On the other hand, iron ore was not bad and the latest inventories in ports still appeared decreasing,tight in overall supply and demand pattern unchanged. But due to regulation, its price may be hard to rise.

Steel: Early this week, both price and trading volume were weak, market performance was just so so, and therewas much inbentory. But later this week, the steel market was fluctuating, there were analysists thought thatthe steel spots market would appear upward trend.

Spiral Burr: Early this week, spiral burr slightly increased in compared with iron ore, but the bounce dynamics is insufficient, the positions sharply declined. Allow for the environmental anticipate, its price has supports and it was expected to increase. Late this week, affected by the production curtailment of environmental protection, the production of spiral burr gone down, and downstream demand was weak. In the short run, piral burr may remain volatile.

Magnesium Metal: Didn't fluctuate too much and ran stably. Currently the magnesium market was in a dull period, demand was weak. But affected by the high temperature, the whole production reduced and factory inventories was not much. So the magnesium market would run stably in a short run.

Silicon Metal: Manufacturing factories in July were more than June but the demand was still not better, the price was low and the confidence was attacked. Some enterprises downregulated the price but some of them was unwilling to because of the costs.

Futures Market of Ferrosilicon:

The Trading Volume was fluctuated but overall increased, especially on Friday. The spots were short and the futures was optimistic. But some analysts thought there would be a rebound.

Ferrosilicon futures main contract 1909 daily closing price, the specific performance as follows:

Date

Closing price

Range %

Settlement Price

Futures trading volume

July 1st

6218

0.42

6244

88188

July 2nd

6178

1.06

6174

92792

July 3th

6146

0.52

6152

60170

July 4th

6164

0.20

6154

53850

July 5th

6146

0.13

6156

42186

July 8th

6140

0.26

6168

92242

July 9th

5982

3.02

6074

145824

July 10th

5990

1.38

6006

72024

July 11th

6008

0.03

5968

92790

July 12th

6244

↑4.62

6228

374,784

 

  • [Editor:kangmingfei]

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