Downstream weakness, easing supply concerns pressure Chinese ferro-silicon market lower

The Chinese domestic ferro-silicon market dipped in the most recent trading session due to the continuing sluggish downstream magnesium market and easing supply concerns, with smelters ramping up their operations.

Fastmarkets' price assessment for ferro-silicon 75% Si min, in-whs China was 5,800-5,900 yuan ($828-842) per tonne on Wednesday July 22, down by 100 yuan (1.7%) from 5,900-6,000 yuan per tonne in the previous week.
Persistently lackluster demand from the magnesium market, a major consumer for 75% grade ferro-silicon, has made the spot alloy price vulnerable to a backswing, according to several market participants.
Fastmarkets assessed the magnesium 99.9%, exw China price at 12,800-13,000 yuan per tonne on Friday July 24, unchanged from a week earlier and at its lowest since March 2016.

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