Chinese ferro-silicon prices have dropped for a second week in a row amid a resumption in production in key producing Ningxia province, while the European market reported deals totaling 300 tonnes within the record high price range.
China market under renewed supply pressure Chinese suppliers turn to export markets European market price range narrows at high US market supported on low import volumes China prices drop on increased supplies Chinese ferro-silicon prices have dropped further against increased output in the key production area of Ningxia province. Metal Bulletin assessed Chinese domestic spot ferro-silicon (basis 75% silicon) prices at 7,500-9,000 yuan ($1,161-1,393) per tonne on Friday January 12, from 7,900-9,900 yuan per tonne the week before. Production has resumed this month in Ningxia province where smelters were ordered to shut down for one month on December 1 last year. Moreover, downstream demand has been subdued since the start of the calendar year. "The bearish outlook on market prices started after the resumption of production in Zhongwei, Ningxia province," a producer source said. Consumption from magnesium refineries has been sluggish so far in January, with magnesium ingot prices under...