The domestic Chinese ferro-silicon price fell by 2.3% week on week on Friday July 12 despite tighter supply, while the European market continued to fall on slow downstream demand.
Chinese domestic market dropped 2.3% while the export price was unchanged. Europe market fell by 1.3% on thin demand and reduced offers in the market. US prices were unchanged with a few deals concluded within the range The Chinese domestic ferro-silicon price consolidated midweek last week amid comparatively weak downstream prices, and a stagnant export market The domestic Chinese ferro-silicon price had risen quickly since mid-June against a backdrop of tightened supply as a result of plant maintenance in major production hubs, including Ningxia Province. But a disappointing downstream magnesium price and a stagnant export market became obstacles to the upswing. Fastmarkets' ferro-silicon 75% Si min, in-whs China price dropped to 6,200-6,400 yuan ($901-930) per tonne on Wednesday July 10, compared with 6,400-6,500 yuan per tonne on July 5, when the alloy price hit this year's high. Magnesium smelters, one of the major...