WEEKLY: China's FeSi prices near 4-month high

China's ferrosilicon (FeSi) market witnessed a surge in the past week, with the price of 75% grade FeSi further moving up by a significant Yuan 267/tonne ($37/t) from April 22 to reach Yuan 6,582.4/t ex-work and including 13% VAT on April 29, hitting its highest level since January 10, according to Mysteel's assessment.

As the five-day Labour Day holiday in China (over May 1-5) approached, more steelmakers returned to the market to replenish some ferroalloy stocks for May production. Notably, Tsingshan Holding Group's stainless steel subsidiary Tsingtuo Group on April 29 announced a bid for 4,000 tonnes of FeSi products for May