On the 22nd, the futures market rose somewhat, the market was more wait-and-see, the inquiry was less, and the transaction was average. The average market price of ferrosilicon was 8,171 RMB/ton, unchanged from the previous trading day, and up 0.42% year on year.
In terms of steel plants, almost all steel plants started to purchase this week. HYST’s ferrosilicon bid price was 8,650 RMB/ton, and the purchase quantity was 100 tons. XISCO priced 8,780 RMB/ton of ferrosilicon, Shuicheng Iron and Steel priced 8,900/9,000 RMB/ton of ferrosilicon, and purchased 100/500 tons. On the whole, the bidding price of ferrosilicon is slightly lower than that in December, but the overall price is still at a high level.
To sum up, the current spot resources in the ferrosilicon spot market were limited, and most of the manufacturers mainly arranged production orders. Some of the orders had been arranged until January. It was difficult for steel mills to purchase at a low price.
In the short term, the ferrosilicon market mainly depends on steel mill bidding, and the spot price is basically stable.