Weekly Commentary on Ferrosilicon Market (7.22-7.26)

You are visiting:Home > Price > Prediction

Weekly Commentary on Ferrosilicon Market (7.22-7.26)

Friday, July 26, 2019
Source:ferro-alloys.com

Save Print

Font: Big Middle Small
Share

Keywords:Ferrosilicon Market, spots, futures

[Fellow]The new round of steel tender would continue to do well as July, we have to wait and see.

[Ferro-Alloys.com] The ferrosilicon market ran weakly stably this week. Last week's higher mainstream quoted price continued, but the trading volume was not that satisfactory, as northeast big factories reinstated the production, the current market was lack of confidence.

From Tuesday, big steel mills released their tender notice of August in succession, Hengyang Valin Steel released its bidding quantity as 180 tons in early August; Jiangsu Shagang Group released its adding volume of July as 1000 tons and the price was 150 RMB/T higher than before; Nanjing Iron and Steel Group released its bidding quantity of August as 2200 tons; ZENITH's bidding quantity of August was 2000 tons. The new round of steel tender would continue to do well as July, we have to wait for the progress of the battle between the supply and requisitioning parties.

There were 9 enterprises in Gansu province In production in July, the utilization of capacity was around 40%, 2.22% up than June.

Steel: Since July, due to the limitation of production, the operating rate of blast furnace declined from 69.6% to 55.1%. Most steel mills' performance was declining during quarter 2 with little sign of swift recovery during quarter 3.

Magnesium Metal: Recently, due to the increase of ferrosilicon's price, the price of magnesium metal was increased, too. But unfortunately, currently it was not in hare demand and the actual transaction was common. The price of magnesium ingot was declined slightly at 100 RMB/T this week.

Silicon Metal: The price of silicon metal stopped declining on temporary basis, but the downstream was not in high demand right now, and the market trend was weak.

Steel Scrap: Due to environmental protection regulations and high temperature and rainy weather, the stockpile of steel scrap was tight and the price remained in strong situation. But on the other hand, the steel billet market started to surrender part of the profits to make a deal, the steel scrap may not pull up price largely.

Iron Ore: The price of iron ore was keeping strong during this long time, as the current stockpile was lower, its price will hold high in a short term run. Vale announced its Vargem Grande comprehensive mining area would reinstate the production on 24th, July, which would increase 5 million tons of iron ore in 2019. Some analysts thought it would influence the price of iron ore, and some analysts thought the iron ore would keep unstably because the contradiction between the supply and requisitioning parties was not solved and meanwhile the declining stockpile of iron ore was relieved currently.

Coke: The coke market was steady and strong this week. The utilization of capacity of steel mills rebounded and the demand for coke was rising, the stockpile decreased. Many steel mills accepted the higher price of coke. At present, the profit of coke enterprises in Shanxi Province was about 150-200 RMB/T and they are probably to increase the price of coke again. But where it will lead to, we have to wait and see.

Ferrosilicon Futures: Continuous increases in eight trading days, ferrosilicon futures began to decline this Tuesday, the trading volume decreased significantly with small fluctuations. The opening price, closing quotation as well as settlement price went down this week.

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

Date	Closing price	Range %	Settlement Price	Futures trading volume
July 1^st	6218	↑0.42	6244	88188
July 2^nd	6178	↑1.06	6174	92792
July 3^th	6146	↑0.52	6152	60170
July 4^th	6164	↑0.20	6154	53850
July 5^th	6146	↓0.13	6156	42186
July 8^th	6140	↓0.26	6168	92242
July 9^th	5982	↓3.02	6074	145824
July 10^th	5990	↓1.38	6006	72024
July 11^th	6008	↑0.03	5968	92790
July 12^th	6244	↑4.62	6228	374784
July 15^th	6338	↑1.77	6316	186422
July 16^th	6324	↑0.13	6314	113906
July 17^th	6342	↑0.44	6334	164028
July 18^th	6356	↑0.35	6368	196106
July 19^th	6432	↑1.01	6400	158476
July 22^nd	6266	↑2.09	6318	126502
July 23^rd	6212	↓1.68	6220	101500
July 24^th	6160	↓0.96	6180	75562
July 25^th	6116	↓1.04	6126	101726
July 26^th	6122	↓0.07	6134	60384

[Editor:kangmingfei]

Related News

·	The Price of Silicon Calcium Cored Wire Is Stable, the Demand for ...	07-25
·	Freeport-McMoRan Reports Second-Quarter And Six-Month 2019 Results	07-25
·	Nickel price trend on July 25th	07-25
·	Spot Chrome Ore Prices 25 July 2019	07-25
·	Chinese Ferrochrome Spot Market Price 25 July 2019	07-25

Tell Us What You Think

please login! login register

Member Services

Most Viewed

	JSW Group partners with South Korea
	Alumina price holding strong with 3.
	Mexico increasingly important destin

	Jubilee starts operations at Roan Up
	Ferrosilicon Futures close at 6602 o
	Coal industry thrives in NW China's
	JSW Group partners with South Korea
	Alumina price holding strong with 3.
	Mexico increasingly important destin
	On September 30th, the APNI released