The Chinese ferro-silicon market fell in the week ended Friday September 28, with prices dropping as suppliers sought to secure profits ahead of the country's Golden Week holiday.
In Europe, the spot market for standard-grade ferro-silicon was steady after dropping for four weeks, with suppliers trying to set a price floor at around ?,?1,300 ($1,508) per tonne delivered. Chinese prices drop ahead of holiday Chinese market awaits steel mill tenders European suppliers look to build price base after falls US market under pressure from weak overseas prices.Chinese market down in line with demandMarkets were quiet last week due to China's national holiday running October 1-7, and many market participants had already gone on holiday by midweek. Domestic prices were also under pressure from there being ample supply.Fastmarkets assessed the Chinese ferro-silicon ex-works price, basis 75% Si, at 6,600-7,000 yuan ($959-1,017) per tonne on September 28, widening downward by 100 yuan per tonne."Prices have fallen a bit... because we are entering the fourth quarter, where everyone is closing their books - as well as the Golden Week holiday," a...