Chinese ferro-silicon prices strengthened in the week ended Friday May 25 after a major consumer increased its monthly buying price for May and showed a willingness to pay more for June shipments, while European prices dropped on the high end, but lower grade sales shored up support for standard grade, while in the United States prices remained steady in a quiet market.
China moves up and set to climb further Steelmakers reveal firm demand over June Europe may have stemmed losses for now US market stalls while the price direction remains clouded Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices at 6,600-7,000 yuan ($1,032.23-1,094.79) per tonne on May 25, up 200 yuan per tonne on the low end and 100 yuan per tonne on the high end week on week.The higher price was attributed to Hebei Iron & Steel (Hesteel) increasing its monthly purchase price for ferro-silicon, basis 72% Si, 700 yuan from its April level to 7,000 yuan per tonne for May delivery. "Hebei bought three cargoes in April, with prices ranging from 6,050 yuan per tonne to 6,300 yuan per tonne, but in May they are willing to pay more, which indicates strong demand," one dealer said. Supply has been tight due to strict environmental regulations imposed...