The Chinese ferro-silicon market climbed further on renewed demand in the week ended Friday December 7, while European prices have been hemmed in while suppliers and consumers negotiate long-term delivery settlements.
China market gets boost from demand Tight supply underpins market strength European prices stabilize losses US ferro-silicon prices flat amid inactivityThe recent increase in domestic Chinese ferro-silicon prices persisted in the past week, buoyed by a temporary boost in demand from steel mills amid longstanding tight supply.Fastmarkets MB Chinese ferro-silicon ex-works price, basis 75% Si, rose by 200 yuan per tonne for a second consecutive week to 7,200-7,400 yuan ($1,046-1,075) per tonne on December 7.Tight supply at ferro-silicon refineries for 75% silicon grade has been, by and large, the key market factor underpinning an increase in prices, according to market participants. New demand from consumers has further encouraged that price increase, according to producers."Steel mills usually stock up now before the mid-winter arrives and transport logistics is an issue," one producer said. "Mills tend to buy from our company because of the letters of credit we issue, meaning they...