China’s FeSi price at 2-month high on dwindling supply
May 29, 2020 11:30
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The gradual rise in Chinese ferrosilicon prices that began earlier this month driven the persistent decline in supply amid the further recovery in demand, has seen the price index of 75% grade FeSi grow to a two-month high, Mysteel’s data shows. As of May 28, the price was at Yuan 5,434/tonne ($760/t) including the 13% VAT, some Yuan 137/t higher from one month earlier.
Many domestic FeSi smelters reduced their output
over the past two or three months given the softening prices, resulting in a
substantial decline in the supply of this ferroalloy in the domestic market,
Mysteel Global notes.
For example, last month China’s FeSi output fell by
29,300 tonnes or 7% from that for March to hit