Today’s futures: The main ferrosilicon 07 contract closed at 5612, a range of -0.92%, a drop of 52, and a single-day increase of 7021 (yuan/ton). Spot: The ferrosilicon market is weak, so be cautious. The 72 ferrosilicon natural block in the main ferrosilicon producing areas is 5300-5400 yuan/ton, including tax, and the 75 ferrosilicon price is 5900-5950 yuan/ton. The tax-free price of 72 ferrosilicon natural blocks in the Henan trader market is around 5200 yuan/ton, and the tax-free price of 75 ferrosilicon natural blocks is around 5600 yuan/ton.
In terms of supply, domestic supply has not changed much, the pace of destocking is still slow, the sentiment is weak, and the number of new orders has always been small. In the short term, ferrosilicon inventory is still the pressure for price reduction. As international events continue to ferment, the ferrosilicon market fluctuates frequently, which has little impact on the fundamentals of ferrosilicon supply and demand.
In terms of demand, hot metal fluctuates at a high level, and the reduction in demand and price trends still suppress procurement drive. Today, a steel plant in Jiangsu Province bid for ferrosilicon at a price of 5,800 yuan/ton, with a quantity of 1,000 tons, and the acceptance price is tax-inclusive to the factory.
In general, the start-up of ferrosilicon enterprises may fluctuate, and with the increase in steel plant bidding, short-term demand may increase rather than decrease. Traders said that the risk is still high and the willingness to buy at the bottom is not strong. In terms of price, the short-term ferrosilicon price has not completely stopped falling, and it is still a trend of falling.
