The export price for Chinese ferro-silicon has reached a 27-month low amid persistent weak demand and tough international competition, Fastmarkets heard on Monday September 9.
In Europe, the market extended its steady trend into a third week in a row, but losses were looming amid an expectation of weaker settlements for deliveries in the fourth quarter.
China domestic price weakens ahead of September tenders
China export price tracks lower to match rivals
Europe pauses as Q4 deals are negotiated
…But signs suggest that losses are imminent
US ferro-silicon prices flat amid lack of consumer interest.
China falls to new low
Chinese ferro-silicon prices extended their current downtrend over the past week, with suppliers cutting their offer prices to encourage buying interest with demand at low levels ahead of the publication of September tenders for alloy from steelmakers such as Hesteel, the second-biggest producer in China.
Fastmarkets assessed the price for ferro-silicon, 75% Si min, in-whs China, at 5,900-6,000 yuan ($830-844) per tonne on September 4, down by 2.5% from 6,000-6,200 yuan per tonne a week earlier.
“There will not…