The recent decline in European ferro-silicon spot prices, which had been weakening in line with demand due to a slump in steel production over the course of several weeks, has paused; but the stabilization might be brief due to the approaching seasonal slowdown in July and August and an increase in lower-priced export offers into the EU.
Thus, the bias in the market on prices is pointing down for the near term.
Some international ferro-silicon suppliers have been exporting, even in the midst of pandemic-related lockdowns in Europe that have steepened price losses while stocks mounted at European ports and warehouses.
Fastmarkets' price assessment for
ferro-silicon lumpy basis 75% Si (scale pro rata), delivered Europe was at ?,?900-940 ($1,010-1,055) per tonne on Friday June 19, unchanged from the previous week. The market last moved below this level in November 2019, and any move below ?,?900 per tonne on the low end would take the market to a point last seen in April 2016, when the price was assessed at ?,?890-940 per tonne.
Steelmakers in Europe have cut...