Monthly Report of Ferrosilicon Market in May, 2022

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Monthly Report of Ferrosilicon Market in May, 2022

Thursday, June 2, 2022
Source:ferro-alloys.com

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Keywords:Ferrosilicon futures, Ferrosilicon supply, Ferrosilicon demand, steel market, magnesium market

[Fellow]In this month, the ferrosilicon market lacked favorable factors on the whole, and the spot quotation was insufficient of support.

[Ferro-Alloys.com]

[Ferrosilicon Market] In May, ferrosilicon futures fell all the way, and the occasional rebound during the period was a flash in the pan. It finally began to stop falling and rebound in the last few days of the month. The opening price of 2209 main contract of ferrosilicon futures in May was 9904, the highest price was 9984, the lowest price was 8462, the closing price was 9196, the settlement price was 9222, the trading volume was 3700133, and the position was 135622, down 7.56%.

In this month, the ferrosilicon market lacked favorable factors on the whole, and the spot quotation was insufficient of support. The price of steel tender decreased rapidly from about 10500 RMB/MT to about 9100 RMB/MT in May; The transaction especially at high prices was difficult. There were not many downstream orders, and they were mainly in a wait-and-see mood; Recently, the manufacturers have been highly motivated in production, the operating rate and daily average output have remained stable, and their confidence was generally poor. It was not until late-May that the ferrosilicon market, which had been depressed for many days, finally ushered the good news of price adjustment at the cost side, which boosted the market sentiment. The futures market was consolidated and slightly recovered, and some spot prices were slightly increased; At the end of the month, a new round of steel tender was launched. Many steel mills began to enter the market for procurement, and the demand was released. Although the price fell sharply month on month, it rose slightly compared with that in late May, waiting for the pricing of representative steel mills. The short-term market would be mainly stable.

Tender Information – June, 2022

Commodity	Steel Mills	Price (RMB/T)	Change vs. Last Month (RMB/T)	Volume & change vs. last month (Tons)
FeSi75-B	ZENITH	9200	-1300	1300 tons (-1200 tons)
FeSi75-B	KISC	/	/	FeSi72Al1.5 1300 tons
FeSi75-B	Xiangtan Iron & Steel	9300	-1000	1200 tons (-700 tons)
FeSi75-B	Nanjing Iron and Steel	9200	/	1000 tons
FeSi75-B	KISC	9290/9360		FeSi72Al1.5 1000 tons

Below are ferrosilicon futures main contract daily specific performances:

Date	Opening price	Highest price	Lowest price	Closing price	Settlement price	Trading volume	Positions	Range
5.5	9904	9984	9616	9750	9770	209993	130584	-1.99%
5.6	9608	9610	9224	9240	9460	236874	146596	-5.42%
5.9	9200	9238	9018	9144	9126	206102	138883	-3.34%
5.10	8970	8970	8680	8730	8814	226033	140601	-4.34%
5.11	8712	8980	8710	8820	8858	176326	142035	0.07%
5.12	8940	8982	8580	8604	8764	216241	152909	-2.87%
5.13	8700	8884	8656	8700	8764	232918	156512	-0.73%
5.16	8772	8866	8740	8842	8806	181005	151041	0.89%
5.17	8898	9112	8858	8962	8988	215027	149569	1.77%
5.18	8922	8922	8682	8698	8792	175855	154782	-3.23%
5.19	8530	8794	8462	8776	8670	187205	158499	-0.18%
5.20	8860	8900	8766	8820	8832	163007	144294	1.73%
5.23	8920	8980	8740	8772	8868	198568	156074	-0.68%
5.24	8772	8992	8772	8816	8870	183816	144523	-0.59%
5.25	8886	8936	8710	8852	8842	168445	141601	-0.20%
5.26	8800	8892	8666	8718	8772	175263	151621	-1.40%
5.27	8860	9034	8840	8940	8934	213774	142263	1.92%
5.30	9070	9176	9002	9118	9096	177888	140881	2.06%
5.31	9210	9288	9156	9196	9222	155793	135622	1.10%

[Ferrosilicon Exports] According to data of China Customs, in April 2022, China exported 75487.143 tons of ferrosilicon (containing by weight more than 55% of silicon), with a year-on-year increase of 62.84% and a month on month decrease of 1.01% (46356.934 tons in April 2021 and 76259.419 tons in March 2022). In April 2022, China exported 2460.8 tons of ferrosilicon (containing by weight ≤ 55% of silicon), an increase of 28.29% year-on-year and 27.03% month on month. From January to April 2022, China exported 264499.25 tons of ferrosilicon (containing by weight more than 55% of silicon), a year-on-year increase of 94.01%. From January to April 2022, China exported 7735.506 tons of ferrosilicon (containing by weight ≤ 55% of silicon), a year-on-year decrease of 1.81%.

[Steel Market] In May, the steel market performance was generally lower than expected, and the steel price generally fell. According to the data released by the National Bureau of Statistics, production and demand recovered at both ends in May, the manufacturing PMI rebounded to 49.6%, the new order index and the market demand rebounded; The price index continued to fall, and the ferrous metal smelting and rolling processing, non-ferrous metal smelting and rolling processing, metal products and other industries were lower than 45.0%. However, with the gradual unsealing and resumption of production in many places, the demand for steel was still expected to rebound. However, June to August is the traditional off-season of the steel market, with the temperature rising in the north and the rainy season in the south, which may also bring uncertainty to the market. It is necessary to pay close attention to the recovery of demand.

[Magnesium Market] In May, the domestic metal magnesium market was affected by poor demand and entered the downward channel. The magnesium price fell from 37000 RMB/MT at the beginning of the month to about 28500 RMB/MT at the end of the month. During this period, although the news that Shaanxi region held a meeting related to the semi-coke industry from May 11 to 12 was encouraging, the decline stopped and rebounded briefly, but the semi-coke rectification plan has not yet been fully released. The operation of both the supplier and the demander was still cautious. Under the pattern of supply exceeding demand, the magnesium market was under pressure. The willingness of the factory to continue to reduce price was not strong, it was reported that price stabilization measures had been taken. However, whether magnesium prices can be stabilized depends on downstream follow-up and transaction conditions.

[Editor:kangmingfei]

Related News

·	Ferrosilicon futures close at 9342 on June 1, up 1.30%	06-01
·	Silicomanganese futures close at 8434 on June 1	06-01
·	Ferrosilicon futures close at 9196 on May 31, up 1.10%	05-31
·	Silicomanganese futures close at 8468 on May 31	05-31
·	Ferrosilicon futures close at 9118 on May 30, up 2.06%	05-30

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