[Ferro-Alloys.com]

[Raw Material] The ex-factory quotation for small-sized semi coke was about 720-860 CNY/T; The factory price of silica was around 180-260 CNY/T; The price of oxide skin was around 930-960 CNY/T; The electricity prices ranged from 0.41 to 0.52 CNY//kWh.

[Spot Market] This week, the futures market continued to rise, and on Thursday it broke through 6700 CNY/T, injecting confidence into the sluggish ferrosilicon market; The latest tender price of the steel plants has also turned from a decline to an increase. It’s reported that Yunnan Chenggang Group’s FeSi75-B ferrosilicon, including tax, was priced at 6730 CNY/T in cash, an increase of 100 CNY/T from 6630 CNY/T on March 15th; A steel mill in Jiangsu was priced at 6700 CNY/T, an increase of 100 CNY/T compared to the previous round. Driven by the improvement in market inquiry activity and transaction situation, manufacturers have become more positive to strong the price, and spot prices have increased, too. The quotation for 72# ferrosilicon standard blocks has risen to around 6400 CNY/T, while the quotation for 75# ferrosilicon standard blocks was around 6700-6800 CNY/T, and it was difficult to find low-priced goods in the market. However, whether the market has sustained upward momentum still needs to be closely monitored for demand follow-up and other situations.

[Futures Market] The opening price of 2406 main contract was 6516, the highest price was 6734, the lowest price was 6444, the closing price was 6694, the settlement price was 6672, the position was 160077, the trading volume was 519,828, and the transaction amount was 17.1481 billion yuan, an increase of 3.40%.

Below are Ferrosilicon Futures main contract daily specific performances:

[Demand Market] Since April, seasonal demand was rising, and the steel market continued to warm up, with transactions increased and inventories decreased (according to data from the China Iron & Steel Association, at the end of early April, the steel inventory of key steel enterprises was about 18.2538 million tons, a decrease of 173600 tons or 0.94% compared to the previous period (i.e. late March); Compared to the same period last month, it decreased by 1.2702 million tons, a decrease of 6.51%. Steel prices have strengthened, profitability of steel mills has improved, market confidence has gradually strengthened, and resumption of production has also increased. In the short term, steel prices is expected to continue to fluctuate at high levels, but there is also a need to be cautious of potential pullback expectations.

This week, the domestic magnesium market continued its upward trend from last week, operating steadily. Factories had a strong willingness to raise prices, and there were not many low-priced goods in the market. However, the demand side was still cautious, with limited high price transactions. The game between supply and demand sides continued. On Friday, the mainstream ex-factory cash quotation including tax of 99.9% magnesium ingots in Fugu area was around 18600-18700 CNY/T. Follow up on demand and transaction status.

• [Editor:kangmingfei]