The European ferro-silicon market backtracked over the past week, erasing recent gains as demand in the region tailed off, while US and Chinese prices both held amid lackluster trading activity.
European market pares gains as demand fadesChinese domestic alloys prices held;Chinese export market stagnant;US market holds absent trading activity Europe pares gains as demand fadesThe European ferro-silicon market has moved down over the past week, paring earlier gains as brief buying interest from consumers has petered out and suppliers have cut their offer prices as a result.Fastmarkets assessed the price of ferro-silicon, lumpy, basis 75% Si (scale pro rata), delivered Europe at ?,?900-920 ($1,001-1,023) per tonne on October 25, down ?,?20 from a week earlier.Despite recent market reports of export offers to the European Union from Kazakhstan no firm deals have been done, traders said. Apparently suppliers of ferro-silicon from Kazakhstan are wary about offering material too readily that may cut prices in Europe to below ?,?900 per tonne and instead they are opting to wait until European steelmakers fully reveal their buying needs...