Price losses have deepened in the Chinese ferro-silicon spot market as restarted production increasingly weighs on supplier sentiment, although demand from the magnesium market is giving some support.
China market weakness persists... ...but Mg sector demand stems price losses Europe eases with lower offer pricesUS suppliers cut prices amid competition Renewed supply drags down Chinese market Chinese domestic ferro-silicon prices continued to fall last week while ample supply pressured prices down despite relatively active demand. Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices down 300 yuan per tonne week on week at 6,500-7,000 yuan ($1,029-$1,108) per tonne on Friday March 23. Prices are unexpected to return to levels from December 2017 because smelters that were shut in the Inner Mongolia and Ningxia areas have all resumed production. As a result, export prices for ferro-silicon from mainland China (basis 75% silicon, 7.5% carbon) also fell $100-120 per tonne week on week to $1,350-1,430 per tonne on March 23, according to Metal Bulletin's latest assessment. "We have stopped taking bids that are...