On the 1st, the mainstream price of 72 ferrosilicon in the main producing areas of Ningxia was around 8,400-8,600 RMB/ton.
On the 1st, the futures market was red, with the highest of 9188 points and the lowest of 8632 points. The price volatility in the futures market stimulated the ferrosilicon market, and traders increased their willingness to purchase. The factory spot began to circulate and inventories declined.
There is news in the market that Ningxia will suspend production. SunSirs will further follow up this news.
At present, the new round of steel bidding has not yet started, the market transactions are relatively quiet, and the downstream is mainly cautious and wait-and-see. There is currently no good news, and ferrosilicon is expected to remain stable in the short term.