[Ferro-Alloys.com]

This week, the market of Ferrosilicon Futures continued to decline, and rebounded on Friday. The opening price of the 2305 main contract was 7850, the highest price was 7910, the lowest price was 7590, the closing price was 7822, the settlement price was 7826, the trading volume was 886787, and the position was 199177, a decrease of 0.23%. Due to limited demand and gradual inventory accumulation, spot prices have decreased slightly, and market sentiment was mainly cautious and conservative. Manufacturers' enthusiasm for production has decreased. Many have chosen off-peak production or shut down furnaces to reduce production. If there is no good news to boost the market, the short-term ferrosilicon market would still operate in a narrow range of shocks and weak consolidation. Pay attention to the Futures market and changes in supply and demand relations.

Below are Ferrosilicon Futures main contract daily specific performances:

Downstream, according to data from CISA, in early-March, key steel enterprises produced a total of 21.5173 million tons of crude steel, with a daily output of 2.1517 million tons, a decrease of 3.5% compared to the previous month; In early-March, the inventory of key steel enterprises was 17.7041 million tons, an increase of 284300 tons or 1.63% compared to the previous ten days; A decrease of 325400 tons or 1.8% compared to the same peirod last month; An increase of 4.6476 million tons or 35.6% compared to the end of last year; An increase of 1.0222 million tons or 6.13% over the same period last year. Under the influence of the international macro environment, the pessimism prevails. On Thursday, the Futures market sharply declined, leading to a weak decline in the spot market quotations. The trading atmosphere was cold, and the inventory has increased slightly. In the short term, it's expected to be still under pressure.

Due to the continued weakness of domestic and foreign demand and insufficient support at the raw material end, after briefly weak stability, the domestic magnesium market continued to decline in the middle and later stages of this week. On Friday, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots in Fugu area was about 20200 CNY/T, down about 300 CNY/T from last week. Under the market pattern of oversupply, it is still difficult to be optimistic about the short-term magnesium market. However, considering that the current magnesium price has fallen to the cost line, and in some regions the selling price lagged behind the costs, it is expected that the further reduction would be limited, focusing on demand follow-up.

• [Editor:kangmingfei]