Steel demand for ferro-alloys will remain despite soaring prices, panelists at IFA say

Although ferro-alloy prices have sharply climbed, steelmakers are unlikely to reduce their consumption of these raw materials given the small share of steel production costs it accounts for and the likelihood that prices will move down in the near-term, panelists said on Monday November 16 during Fastmarkets' International Ferro-alloys Conference.

During the session titled "Steel Mill Panel Discussion," panelists highlighted the unprecedented price rally in the ferro-alloys markets this year, which was caused by a mix of factors including supply-side disruptions, high production costs, freight rates and strong demand.
"The price increases are just insane, especially the prices of ferro-silicon," Ekaterina Larionova, head of the Raw Materials Department at Tula Steel, said.
China, the world's top ferro-silicon producer, saw its domestic 75% ferro-silicon price surge by 216.9% in the first ten months this year to 22,000-23,000 yuan ($3,446-3,603) per tonne in late September.
Ferro-silicon prices in Europe and the United States also rallied to all-time highs in late October and early November.

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