The price rally in European ferro-silicon, which has lasted through the year, is showing no sign of stopping and consumers in the steel sector are likely to demand more alloy material before prices hit even higher record peaks, sources told Fastmarkets.
European prices jumped by more than 5% to a peak of ?,?2,500 ($2,930) per tonne delivered in the week to September 24, with reported deals and offers at that level, although offers were as low as ?,?2,200 per tonne in Central Europe.Quarterly delivery settlements between October and early February were reported at the top end of the market, suggesting firm support for spot market prices in the near term. European ferro-silicon producers have already mostly allocated their output for the fourth quarter to long-standing customers and are now negotiating delivery settlements well into the first quarter of 2022, sources...