WEEKLY: China's spot FeSi prices dip further on weak demand

Source: Mysteel Jan 03, 2024 14:00

Chinese prices of ferrosilicon (FeSi) in the spot market dipped further during December 26 2023-January 2, with the price of 75% grade FeSi assessed by Mysteel at Yuan 6,588/tonne ($922/t) including the 13% VAT, lower by another Yuan 14/t from one week earlier.

The further dip in spot FeSi prices was primarily attributed to tepid demand for the ferroalloy from both steelmakers and magnesium producers amid the off-season for downstream consumption. Besides, the softening prices of key raw materials for FeSi production added more pressure on the prices of FeSi last week, Mysteel observed. For steelmaking, Mysteel's latest survey showed that as of December 22, daily hot