European FeSi market to test new price highs

The European ferro-silicon market seems set to test the March 2018 price range of ?,?1,650-1,700 per tonne, with suppliers reporting several sales of standard-grade material for prompt delivery already done at ?,?1,620 per tonne.

One regular trading company said it is not offering any such material below ?,?1,600 ($1,916) per tonne, although the bulk of sources suggest a range between ?,?1,500-1,600 per tonne.
The European market should also receive further support from persistent bouts of short-covering while domestic ferro-silicon producers have already started selling material for third-quarter delivery, prompting short-covering from buyers that were keen to pay even more replacement costs when the months progress, trade sources said.

A move above ?,?1,600 per tonne this week would put the European market up by ?,?50 per tonne on the low end of Fastmarkets' assessment of ferro-silicon lumpy basis 75% Si (scale pro rata), delivered Europe at ?,?1,500-1,550 per tonne...

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