[Ferro-Alloys.com]

[Spot Market] In early-February, under the increasingly strong atmosphere of the Spring Festival, the domestic ferrosilicon market showed a slightly weak operation situation, most manufacturers are still in tight spot, but the downstream transaction has weakened, and more and more logistics has been suspended, and some enterprises have slightly adjusted their quotations. And after the Spring Festival holiday, ferrosilicon spot market gradually returned to normal operation. Although under the influence of multiple factors such as environmental protection policies, there is no lack of wait-and-see sentiment in the industry. Many manufacturers say that they didn’t start to quote yet. Under multiple positive factors, ferrosilicon market is generally optimistic, wait-and-see, bullish mood is gradually strong, and manufacturers are willing to keep the price strong.

[Ferrosilicon Futures 2105 Contract] Opening price of ferrosilicon futures 2105 contract in February was 6,748, highest price was 7,998, lowest price was 6,546, closing price was 7,796 and the settlement price was 7,712. The trading volumes were 3,622,407 and the positions were 157,855.

[Steel Market] In early-February, as the Spring Festival approaches, steel demand continues to weaken and inventory increases month on month. After the Spring Festival holiday, the futures market rose sharply, driving the spot price stronger. On the other hand, during the Spring Festival, the steel stock continued to accumulate. However, under the " Celebrate the Chinese New Year on the spot" initiative, not stopping work and returning to work early will also help the economic recovery in the first quarter and boost market confidence.

[Magnesium Market] Logistics has been suspended, market transactions weakened before the Chinese New Year. And after the festival, the magnesium market opened steadily, the factory inventory was tight to some extent, and the mainstream quotation was up. Cash quotation including tax of 99.9% magnesium ingots in Fugu area increased from around 14100 to around 14600 yuan per ton.

• [Editor:kangmingfei]