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.

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Manufacturers

Inner Mongolia: A small number of manufacturers continue to overhaul and have not resumed production. The Ulanqab substation is under maintenance, which has a small impact on silicon manganese production. Manufacturers are not shipping smoothly, and the pairs are deserted. They are cautious and wait-and-see.

Ningxia: Due to the decline in the futures market, the losses of manufacturers have intensified. A new manufacturer has been overhauled, involving a daily output of 210 tons. Manufacturers are not active in quoting, the market inquiry atmosphere is general, the transaction is relatively light, and retail transactions are mainly based on basis trading.

South: Due to high costs, factories are suffering from serious production losses. Some factories are expected to reduce production for maintenance, and production is expected to continue to decrease.

Raw materials

Manganese-rich slag: The market is weak and volatile, and the market is in a wait-and-see mood. Recently, the market sentiment of the black sector is bearish. The manganese-rich slag is affected by the industrial chain and is weak and volatile overall. The quotations have been slightly lowered. Most manufacturers are currently maintaining normal production, and the inventory in the factory is low. It is expected that the price in the future market may continue to consolidate. In terms of price: the price of 40-degree manganese-rich slag in Liaoning is 42-43 yuan/ton, the price of 38-degree manganese-rich slag in Ningxia is 42.5-43.5 yuan/ton, and the price of 40-42-degree manganese-rich slag in Shanxi is 40-43 yuan/ton.

Tianjin Port: The manganese ore market is weak, downstream futures are weak, and market quotations are entangled. South African semi-carbonic acid transactions are around 34.5-35 yuan/ton, South African high-speed rail is 31.5-32 yuan/ton, Gabon is 40.5-41 yuan/ton, and Australian block is 41-42 yuan/ton.

Qinzhou Port: Manganese ore prices are weak, and downstream wait-and-see price pressure sentiment has increased. Semi-carbonic acid prices are 35-36 yuan/ton, Australian seeds are 42-42.5 yuan/ton, Gabon blocks are 44.5 yuan/ton, and South African iron blocks are 35-35.5 yuan/ton.

Traders

There are few sources of goods in Anyang trading market, and there are not many quotations. The futures and spot companies have more quotations for silicon-manganese basis, Inner Mongolia 05-290, Ningxia 05-300, Tianjin 05-180, Hebei 05-160, Anyang 05-110, Jiangsu 05-50, Hubei 05-80.

Steel mill end

Steel mill end, downstream demand has slightly decreased, April silicon-manganese steel recruitment has been carried out one after another, and Hebei Steel has not started yet.

Market outlook:

Silicon-manganese market is weak and stable. On the cost side, the price of chemical coke has increased slightly, the price of manganese ore has fluctuated and is weak, and the market wait-and-see sentiment has increased. The sentiment of reducing production and maintenance on the manufacturer side has increased compared with the previous period, and the expected output may fluctuate and fall. The demand on the steel mill side is lower than expected, and the enthusiasm for purchasing and inquiry is general, so it is cautious to wait and see.

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