The market trend of import of ferroalloy as of 30 September 2015 is as follows.

<> Silicon Metal = The prices of low-grade products in the Chinese domestic market continued to rebound, and the price of 553 grade was up by CNY 300 - CNY400 per ton from the end of August. The prices of other grades stopped declining in the middle of September, which still continues contrary to expectation.

In Japan, many of the customers finished the purchase for the products to be delivered until next February and the purchase of spot goods continues to be low, but there is an anticipation of a price hike in the market, and some customers are currently moving to buy so as to replenish in-hand stocks. As to 553 grade, both offer and contract prices are up by US$60 - US$80 per ton from the end of August owing to the price hike in the Chinese domestic market where the products will be purchased.

<> Ferro-silicon = As of the end of September, the shipment of ferro-silicon from Tianjin is still stopped, and it is not yet in sight when the shipment will restart. As the exporters shifted shipments to Tsingtao or Lianyungang at an early date, the impact on the export to Japan and South Korea is low, and there has been no feeling of tight supply in both countries up until now. On the other hand, as to the export to USA, it is difficult to change the export route, and the supply seems to be not enough.

In China, the production of the product with Si being 75% continues to decline, but the cargoes which could not be exported from Tianjin flow into the domestic market and lower the price which is down by CNY150 per ton from the end of August. 

Both offer and contract prices in Japan remained unchanged from the middle of September because the prices balanced out shifting charges of the regularly-exported products due to a change of shipping port.

To the contrary, the prices of products distributed in the market were down by somewhere between US$50 and US$120 per ton from the end of August owing to the increase in the distributed quantity of cheap products and price competition with Malaysian products.

On the one hand, both offer and contract prices for Russian products were down by US$25 - US$40 from the end of August.

<> Silico Manganese = The producers in India show a reluctance to reduce prices because the producers suffer from the money-losing production and the rupee becomes strong against US dollar, and there has been no price movement since the middle of September. 

In Japan, the thin trading continues due to ongoing low demand from steel mills and unclear outlook for the future. However, partly because the long-term contract price in Japanese yen for electric furnace mills for the period from October to December is up from the prior period, the downward pressure on the price of spot goods became weakened. Both offer and contract prices remained unchanged from the middle of September.

In China, there has been not enough change in the situation like the consumption by the domestic steel mills still continues to be low and an electricity rate for a full-water season will be applied until the end of October, which in turn led to the price in China having no change due to a thin trading before the long holidays of China National Day. By the same token, there has been no change in the offer price meant for Japan, and the situation of no specific contract being made continues.

With regard to the antidumping investigation on Indian silico manganese in Europe in which the market participants in Asia have interests, it now has turned that the investigation is still going on, and it is not clear when the final decision will be made.

What's more, with regard to the antidumping investigation on Australian silico manganese in the U.S., the Department of Commerce (DOC) announced on September 18 that its provisional decision was guilty. From now, in case the final decisions made by DOC and the US International Trade Commission (ITC) are guilty, the imposition of antidumping duty will be implemented.

<> High-carbon Ferro-chrome (including charge chrome) = The benchmark price negotiation for the period from October to December between South African producers and European customers came to an agreement with the price being down by US Cents 4 from the prior period on September 28. The price negotiation between Japanese stainless steel mills and high-carbon ferro-chrome producers are still going on, and it is obvious that the negotiation will continue into the next month. Many of market participants anticipate the price cut range meant for Japan to be the same as that for Europe as well.

As to spot goods, the situation of no trading of spot goods having been clinched in Japan is ongoing. 

• [Editor:Sophie]