Chinese ferro-silicon prices held firm, with market participants awaiting further direction from November tender purchase prices, while the European and US spot markets continued to suffer from inactivity amid 2019 contract negotiations.
Chinese domestic market awaits November tender prices for direction Chinese export offers flat on inactivity European ferro-silicon market dips to new 2018 low US prices flat while market hones in on 2019 negotiations Chinese market waits for direction from tenders Chinese ferro-silicon prices edged up slightly, although market participants were mainly waiting for near-term direction from steel mills' tender purchase prices for cargoes delivered in November. Fastmarkets MB assessed the Chinese ferro-silicon ex-works price, basis 75% Si, at 6,600-6,900 yuan ($950-993) per tonne on Friday October 26, up 1.5% from 6,500-6,800 yuan per tonne one week ago. Domestic ferro-silicon prices found support from the strong performance of magnesium, one of the ferro-alloy's key consumers. Chinese magnesium prices have jumped up since the start of October due to production disruptions following environmental inspection in Shaanxi province, a production hub for magnesium, according to market participants. Fastmarkets MB...