The Chinese ferro-silicon spot market has stabilized losses in the past week, with support coming from magnesium production - a sizeable consumer of ferro-silicon.
Chinese spot market halts downward drift but ample supply may drag in near term Europe prices stable, awaits second quarter settlements US market eases, but low stock levels offer support Chinese prices steady Chinese domestic ferro-silicon prices have been unchanged in the past week despite slow demand. Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices at 6,800-7,300 ($1,076-$1,155) yuan per tonne on Friday March 16, unchanged week on week. In the near term, ample supply is being cited as having a potentially bearish impact on prices. "Most, if not all, of the major producers are back in operation and the market is not short of ferro-silicon," a trader said. Slow downstream buying interest is also weighing on market sentiment. Steel mills, which are the major consumers of ferro-silicon, were reported to be holding out on their purchases until a clearer price trend was apparent. Still, magnesium...