The Chinese domestic ferro-silicon price rebounded last week on short covering due to market worries about a fall in supply the week before, while the European price fell by ?,?10 ($11) per tonne after a recent tender for second-quarter delivery was settled below the spot market price.
China market jumps more than 5%Supply worries grip the marketEurope price drops after Q2 settlementUS market drops amid slow trading. In the domestic market for ferro-silicon in the week ended Friday March 8, Chinese ferro-silicon prices jumped by more than 5% due to an impending shortage in supply from plants in Ningxia province.These units may be subject to environmental inspections, sources said, while other plants have shut because they were not profitable.Fastmarkets' assessment of the Chinese ferro-silicon ex-works price, basis 75% Si, jumped by 5.1% to 6,000-6,400 yuan ($891-951) per tonne on March 8.Stronger ferro-silicon futures prices also supported domestic prices that had fallen to an annual low of 5,800-6,000 yuan per tonne a week earlier. The market has fallen steadily this year since climbing to 7,200-7,400 yaun per tonne in early December, from 6,600-6,700 yuan per tonne in early November."Some buyers... are...