The Chinese government didn’t relax the restrictions on ferrosilicon smelters yet but a few small smelters and traders are anticipating limited resumption beginning next week. As a result, small quantities of 72% Si ferrosilicon were offered around rmb7,500 per mt for domestic consumption, but the large smelters were holding out with prices over rmb10,000.
Hebei Iron and Steel announced its January buying price for 75% FeSi at rmb9,000.
The ZCE’s May ferrosilicon contract fell rmb66 to rmb6,516 per mt today on turnover of 383,334 contracts.
Meanwhile, the export price was quoted at around $2,100 per mt, f.o.b. for Asian buyers.