Monthly Report of Ferrosilicon Market in June, 2022

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Monthly Report of Ferrosilicon Market in June, 2022

Friday, July 1, 2022
Source:Ferro-Alloys.com

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

[Fellow]Ferrosilicon futures continued to fall in June, resulting in spot prices falling.

[Ferro-Alloys.com]

[Ferrosilicon Market] Ferrosilicon futures continued to fall in June, driving spot prices falling. The trading performance was average, with growing pessimism and cautious operation. Since the production side has always been relatively stable, the monthly output has been at a continuous high level, while the downstream had export support, but the domestic demand was light. Some manufacturers said that they delivered according to orders and already had a small inventory. In June, the price of steel tender continued to shrink from 9600 yuan per ton to about 8800 yuan per ton, and the progress of steel tender was slow in July. On June 22, the Silicon Committee of China Ferroalloy Industry Association held the second video meeting in 2022, calling on ferrosilicon enterprises to pay more attention to their own technology and equipment upgrading under the current market environment, form a joint force, orderly overhaul and reduce production, and "getting through the winter" together.; And according to market news, some ferrosilicon plants in Ningxia, Shaanxi and other regions have begun to reduce production or avoid peak production (the exact information needs to be further tracked).

In June, the opening price of 2209 contract was 9140, the highest price was 10068, the lowest price was 8132, the closing price was 8378, the settlement price was 8422, the trading volume was 3766050, and the position was 152995, a decrease of 2.16%.

Below are ferrosilicon futures main contract daily specific performances:

Date	Opening price	Highest price	Lowest price	Closing price	Settlement price	Trading volume	Positions	Range
6.1	9140	9370	9050	9342	9230	159541	131227	1.30%
6.2	9320	9414	9256	9390	9344	130898	123070	1.73%
6.6	9430	9484	9346	9410	9418	113799	123244	0.71%
6.7	9410	9588	9372	9538	9518	138472	122421	1.27%
6.8	9580	9928	9556	9902	9788	203221	149535	4.03%
6.9	9902	10068	9738	9762	9918	215220	145118	-0.27%
6.10	9760	9842	9594	9774	9718	166265	147078	-1.45%
6.13	9618	9652	9308	9388	9432	203570	138374	-3.40%
6.14	9300	9360	9054	9120	9172	193759	138046	-3.31%
6.15	9050	9134	8868	8876	9022	180202	143123	-3.23%
6.16	8970	9068	8812	8822	8934	161332	135578	-2.22%
6.17	8730	8788	8642	8660	8706	179165	147337	-3.07%
6.20	8500	8520	8168	8314	8290	247031	161934	-4.50%
6.21	8400	8554	8294	8298	8408	203848	144474	0.10%
6.22	8280	8362	8132	8182	8264	177076	164031	-2.69%
6.23	8316	8446	8214	8390	8336	210840	145756	1.52%
6.24	8300	8368	8192	8306	8276	179360	148927	-0.36%
6.27	8428	8598	8394	8520	8516	195709	137251	2.95%
6.28	8510	8650	8360	8644	8482	170720	135341	1.50%
6.29	8660	8678	8510	8572	8580	145956	130762	1.06%
6.30	8570	8572	8354	8378	8422	190066	152995	-2.35%

[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); 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%.

[Steel Market] Recently, due to the overall poor downstream demand in the domestic steel market, the weak situation has continued. Since mid-June, the steel price has fallen sharply by 300-600 yuan per ton, superimposed into high-temperature and rainy weather, and the losses of steel enterprises have intensified. Steel enterprises in many provinces across the country have issued maintenance plans. In June, China's economic boom level rebounded significantly; However, the PMI of the steel industry in June was 36.2%, down 4.6 percentage points month on month. The operation of the steel industry was relatively sluggish. We should pay attention to the changes in downstream demand in July and the progress of steel plants maintenance and production reduction.

[Magnesium Market] In June, the domestic magnesium metal market was affected by the continuous weak downstream demand, coupled with the weakening and callback of the ferrosilicon market at the raw material end, the factory cost support further weakened, and the magnesium price fell again and again. By the end of the month, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 24800-25200 yuan per ton. In July, the downstream entered the traditional off-season of demand. Under the market pattern of oversupply, the short-term magnesium market is still difficult to be optimistic, or may be consolidated.

[Editor:kangmingfei]

Related News

·	Ferrosilicon futures close at 8378 on June 30, down 2.35%	06-30
·	Ferrosilicon futures close at 8572 on June 29, up 1.06%	06-29
·	Ferrosilicon futures close at 8644 on June 28, up 1.50%	06-28
·	Ferrosilicon futures close at 8520 on June 27, up 2.95%	06-27
·	Ferrosilicon futures close at 8306 on June 24, down 0.36%	06-24

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