[Ferro-Alloys.com] 

 

[Steel mills tender] Ferrosilicon tender of steel mills in August has basically finished, with the price at around 5900 yuan per ton (down around 200 yuan per ton).

 

[Spot market] The overall ferrosilicon futures market rose slightly (the last trading day fell slightly), and the spot market was stable. The overall operating rate was about 60%, and the inventory was not much. Gansu big plant ferrosilicon 72# quoted around 5550-5600 yuan per ton; there was news of furnace shutdown and maintenance in Shaanxi, but the impact on the output has not reflected. It is expected that the ferrosilicon market will continue to be stable in the short term, focusing on change of supply and demand and the trend of futures.

 

[Ferrosilicon futures 2010 contract] Opening price of ferrosilicon futures 2010 contract of this week was 5,646, highest price was 5,806, lowest price was 5,644, closing price was 5,710 and the settlement price was 5,716. The positions were 62,799 and the trading volumes were 384,985.

 

 

[Steel market] Since August, the domestic steel market ushered in a "good start" and the price is relatively strong. This trend is expected to continue in the short term. However, affected by the price changes of raw materials, the actual profit of steel mills has declined, and the producing enthusiasm is not very high; in addition, due to the seasonal influence, the steel supply is not expected to increase significantly in August. In the first ten days of August, the average daily output of crude steel was 2.1534 million tons, with a month on month decrease of 0.87% and a year-on-year increase of 5.14%; the steel inventory of key steel enterprises was 13.9916 million tons, increased by 860300 tons compared with the previous ten days, with a growth rate of 6.55%; compared with the beginning of the year, it increased by 4.4592 million tons, an increase of 46.78%.

 

[Metal magnesium market] The domestic and foreign demand markets are still relatively tired (August is the traditional demand off-season), with fewer transactions and a strong wait-and-see mood. Current cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 12800-12850 yuan per ton.