[Ferro-Alloys.com] 

[Steel Tender] Ferrosilicon tender moved slowly. HBIS released its tender volume of April, which was 1065 tons, a decrease of 1208 tons vs. March.

[Spot market] Ferrosilicon plants started to cut or halt production recently because of the high inventories, low price and soft demand, and the inventories consumed quickly. These two weeks, the ferrosilicon price didn’t change much. The downstream demand hasn’t recovered entirely, it’s difficult for ferrosilicon market to get warm rapidly and it’s expected to run weakly in a short term.

 [Ferrosilicon Futures 2009 contract] Opening price of ferrosilicon futures 2005 contract was 5618, highest price was 5696, lowest price was   5550, closing price was 5590 and the settlement price was 5632. The positions were 28743 and the trading volumes were 140321.

Below are ferrosilicon futures main contract 2009 daily specific performances in this week:

[Steel] Domestic steel mills are still in a destocking period. According to data of CISA, in late March, the steel inventories were 18.0666 million tons, a decrease of 1.7574 million tons (8.87%) vs. last ten days, and increase of 8.5341 million tons (89.53%) vs. the beginning of this year. Due to the overseas outbreak, demand of manufacturing and automotive industry for steel continued to drop, steel capacity was impacted in major steel countries, many big steel mills released news of production cuts and the whole market was in a low mood. It’s expected to run weakly in the short term.

[Metal Magnesium] The magnesium ingot price dropped and dropped until around 13000 yuan per ton, the exports were also influenced by the overseas outbreak, factories ran hard and there was news of production cuts went out.

• [Editor:kangmingfei]