[Ferro-Alloys.com] Major steel mills released their Ferrosilicon tender price in success, the average tender price was nearly flat with last month, at about 6170 yuan per ton, and it was expected that the tender price of November wouldn’t change much. Ferrosilicon factories accepted this but they were looking forward to a favorable turn indeed because the price “couldn’t be lower”.

The price of ferrosilicon changed little with last week, the inventories were still tight and the capacity utilization rate was high, but the trading volume was not that optimistic, and the demand side of downstream forced the prices down, so for the price of ferrosilicon, either rising or decreasing would be hard.

Steel: Heating period is on the way, and the capacity utilization rate of steel mills was not high under the influence of production cuts. In addition, the social steel stocks showed a downward trend recently, the current steel market was getting warn. In a short run, it would relatively strong shock.

Magnesium Metal: Not that optimistic. The price was declining with the soft demand, and may continue decreasing. Overall, the market was oversupplied, and many factories were not very optimistic about the future market.

Ferrosilicon Futures: According the data of this week, the number of warehouse receipts is downtrend, the top 20 positions increased and decreased varied, the purchase volume is more than the holding position. The highest price and the lowest price was 5886 and 5772 respectively, and the trading volume fluctuated slightly.

Below are ferrosilicon futures main contract 2001 daily specific performances:

• [Editor:kangmingfei]