[Ferro-Alloys.com]

This week, the ferrosilicon Futures turned upside down, and the long-depressed mood was relieved. The manufacturer's production was normal, and the output was steadily rising; The price of semi-coke rose significantly (Shenmu Semi-coke Group Co., Ltd. issued a notice that the ex-factory price of the small-sized material was set at 1480 CNY/T from 00:00 on February 24, 2023), which supported the ferrosilicon market; The demand side has also been released to some extent with the further recovery of the downstream resumption, and the transaction has improved. The new round of 75B ferrosilicon tender of Shagang Group (Headquarters) was priced at 8400 CNY/T, down 100 CNY/T from the previous round. Under multiple factors, the market mentality has warmed up, and most of them were optimistic about the future market. Pay attention to the performance of steel tender in March, the trend of Futures market and the change of supply and demand relationship.

This week, ferrosilicon Futures stopped falling and rebounded. The opening price of 2305 main contract was 7854, the highest price was 8318, the lowest price was 7836, the closing price was 8196, the settlement price was 8238, the trading volume was 1020771, and the position was 170359, up 3.93%.

Below are Ferrosilicon Futures main contract daily specific performances:

Downstream, according to the data of the CISA, in the middle of February 2023, the key steel enterprises produced 20.9283 million tons of crude steel, with a daily output of 2.0928 million tons, up 1.49% month-on-month; In the middle of February, the inventory of steel enterprises were 19.53 million tons, an increase of 1.5005 million tons or 8.32% over the previous ten days; An increase of 3.4612 million tons or 21.54% over the same period last month; An increase of 6.4734 million tons or 49.58% over the end of last year; It increased by 2.6265 million tons or 15.54% over the same period last year. At present, the steel demand was accelerating to recover, the transaction was more active to boost the market sentiment, and the production end was also gradually rising. However, the current market was still unstable, the manufacturers were willing to ship goods, and the short-term steel price may be volatile.

Coal price rose and the production cost of magnesium metal was supported, the manufacturer's quotation was increasing. This week, the magnesium metal market recovered and stabilized. On Friday, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots was about 21400-21600 CNY/T. However, the current downstream demand was still weak and has not improved significantly, and it’s not easy for the magnesium price to continue to rise. Pay attention to the follow-up of downstream demand.

• [Editor:kangmingfei]