Chinese ferro-silicon prices have edged down in line with tender purchase prices in the past week, with the European market easing amid reports of deals heard below the current range.
China tracks lower tender purchase prices ...but supportive factors seen European price range eases US market firms while available supply thins Chinese domestic ferro-silicon prices were lower week on week, in line with tender purchase prices from steel mills for February despite higher operational costs and a steady performance from downstream markets. Major producer Hebei Steel's latest tender for February was at 7,500 yuan ($1,189) per tonne, about 160 yuan per tonne lower than January, according to sources. Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices down 100 yuan per tonne from last week to 7,400-8,400 yuan per tonne on Friday February 2. Still, such bearish market indications were partly offset by some positive factors. The magnesium market, a major consumer of ferro-silicon, has been stable in the past week. Metal Bulletin assessed the magnesium Chinese free market, 99% min mg, ex-works price at 15,000-15,300...