The European market for ferro-silicon has fallen again with traders reducing their offer prices both on an inter-merchant basis and to consumers in the steel sector, while the market in the United States has stalled on a lack of buying activity.
Europe marks new low for 2019 Market under further pressure China prices rolled over US market flat on inactivity.European market under pressureThe downward trend in European ferro-silicon prices has persisted over the past week, with traders reducing their offer prices while producers tried to hold their offers at more than ?,?1,100 ($1,233) per tonne delivered.But that producer price offer appears likely to come under pressure in the near term, with traders' offer prices about ?,?50 per tonne below that level on an inter-merchant basis, sources said.Moreover, some consumers in the steel sector have been buying quarterly delivery shipments at prices of less than ?,?1,100 per tonne delivered. And there have been deals done into Europe from Asia, with offers also reported from Egypt and Brazil.Fastmarkets' price assessment for ferro-silicon, lumpy, basis 75% silicon, imported into major European destinations, dropped by ?,?10 per tonne to ?,?1,060-1,120 per tonne on Friday...