[Ferro-Alloys.com]  

[Spot market] The ferrosilicon market was temporarily stable this week, factories continued to avoid peak and reduce production, and the overall inventory significantly reduced. This week, the futures market rose, the delivery warehouse inventory increased, driving the spot market confidence improved slightly. In addition, the purchasing atmosphere improved, and the factories were willing to raise prices, but the downstream demand is still recovering, and it is expected to maintain weak and stable operation in the short term. Pay attention to steel bidding and supply and demand trend in May.

[Ferrosilicon Futures 2005 contract] Opening price of ferrosilicon futures 2005 contract was 5630, highest price was 5788, lowest price was 5568, closing price was 5690 and the settlement price was 5718. The positions were 40593 and the trading volumes were 433573.

Below are ferrosilicon futures main contract 2005 daily specific performances in this week:

[Steel] According to the statistics of World Steel Association, the global steel production in March decreased by 6.0% YoY and China steel production decreased by 1.7% YoY. And CISA data showed that the daily steel production in Mid-April increased by 0.27% vs. last ten days and increased by 0.06% YoY. Currently, inventories of key steel mills were 17.42 million tons, down by 530.9 thousand tons (2.96%) than last ten days and up by 7.8878 million tons (82.75%) than the beginning of 2020. The steel market is still under stock pressure. But on the other hand, with the strengthening of investment in traditional infrastructure and new infrastructure, more downstream industries will resume work and production, and the demand suppressed in the early stage will be released gradually.

[Metal Magnesium] The metal magnesium market didn’t change much this week, the cash offer of 99.9% magnesium ingot in Fugu was around 13100 yuan per ton.

• [Editor:kangmingfei]