Chinese ferrosilicon prices remain stable before the Spring Festival

As the market approaches the upcoming Spring Festival, the price of Chinese ferrosilicon remains unchanged this week, leading the market to take cautious action.

The stability of prices can be attributed to the approaching Spring Festival, which weakened the motivation for steel mills to increase production. In addition, the market is generally confused about winter storage policies.

Due to these factors, the profits of ferrosilicon manufacturers have decreased, leading to hesitation in further price reductions. However, the bidding price for steel has slightly increased. Overall, market demand seems to have weakened.

According to the investigation of Hainan West Asia Group,the ferrosilicon market is currently affected by uncertainty and may experience a decline, posing challenges related to supply and demand. In the short term, it is expected that the ferrosilicon market will continue to be weak.However, due to the increase in shipping costs before the Spring Festival and the concentration of buyers shipping before the festival, the ferrosilicon market still faces the possibility of an increase