China: Ferrosilicon prices remain firm month-on-month, the market awaits new steel prices

China's ferrosilicon prices remain unchanged, and the market is waiting for new price announcements from steel companies. The price range for ferrosilicon containing 72% silicon is RMB 6,610-6,810/ton ($931-$959/t), while the price for ferrosilicon containing 75% silicon is RMB 7,010-7,210/ton ($987-$1,015/t). All prices are ex-factory and include tax.

The spot price of ferrosilicon remained unchanged this week, and dealers were cautious in selling and trading. Traders are adopting a wait-and-see strategy as the Chinese steel giant has yet to announce new steel quotations.

According to Hainan West Asia group, the ferrosilicon futures market sentiment is gloomy and the trend is flat. This is also the reason why traders have little confidence in spot prices.