The Chinese markets for domestic and export ferro-silicon rose in the week ended Friday February 15 on renewed demand after the Lunar New Year holiday, while the European market is stable, with traders offering alloy at about ?,?20-30 per tonne below producer offer prices.
Firm fundamentals a springboard for Chinese prices, with more price strength seen in the near term European price held steady, market participants await second-quarter demand Strong market fundamentals of improving demand and tightening supply have combined to push up ferro-silicon prices in China in the past week. In the Chinese domestic market, increasing demand has been the key factor. The price move follows a series of production cuts among smaller Chinese producers on previously low prices, with any excess material having been bought in recent weeks. Steel mills were reported to be replenishing their inventories after the week-long Chinese New Year holidays earlier in February. "We have heard that a major steel mill bought 1,400 tonnes of ferro-silicon in a new tender," a Chinese ferro-silicon producer said. "The market probably expects prices to increase in the coming weeks." Fastmarkets MB's Chinese ferro-silicon ex-works price, basis 75% silicon, climbed to...