[Ferro-alloys.com]The purchase had ended for ferrosilicon for October delivery and some steel mills including Guofeng Iron & Steel and Shandong Luli Steel Ltd whose monthly purchase volumes of ferrosilicon both stood at almost 500 tons. Large steel mills whose were with over one thousand tons of monthly purchase volumes had not yet began bids for November ferrosilicon. The main stream ex-work tax-inclusive prices slightly declined, with FeSi75# being RMB5,850-6,000/mt(USD955-980/mt) and FeSi72# being RMB5,550-5,700/mt(USD906-931/mt). Low Al ferrosilicon prices remained steady.Major Chinese ferrosilicon exporters kept flat offers with much difference. Export price of ferrosilicon ranged from the lowest of USD1,350/mt to the highest of USD1,400/mt FOB at Tianjin port.

FeSi75# remained €1,110-1,145/mt in European markets and 96-99 cents/lb in US market. Exports of Norway ferrosilicon slightly decreased to 24,567 mt in September 2014 from 25,788 mt in August 2014. Demand was steady in India and ferrosilicon prices remained steady in Indian and Bhutan. Ex-work price of FeSi75# remained Rs76,500/mt (USD1,243/mt) in Guwahati, Ex-work price of Bhutan FeSi75# stayed at Rs 78,500/mt ( USD1,275mt). Export prices of FeSi70-75# remained USD1,320/mt FOB at Kolkata. Contract prices of FeSi75# remained USD1,360-1,380/mt CIF at Japanese ports. FeSi75# was USD1,250-1,300/mt in South Korea. South Korea imported 20,313 mt of ferrosilicon in September 2014.

Analysis: 2014 APEC summit was to be held through early November in Beijing ,China, which asked many steel mills around Beijing to reduce or even suspend production in early November. Thus these steel mills were expected to reduce purchase volume for October delivery and ferrosilicon producers were mainly quite far away from Beijing, indicating they would keep normal production. FeSi market bore pressure in late October in China.

• [Editor:Phillip.Feng]