Backwardation continues to widen on the ZCE

The backwardation continued to widen on the ZCE’s ferroalloy contracts. The May ferrosilicon price rose rmb 226 today to rmb 6,434 per mt on 293,188 contracts trading hands, while the September price rose only rmb 62 to rmb 6,104 per mt on 103,088 contracts.

The May silicomanganese contract price rose today by rmb 162 to rmb 7,890 per mt based on 177,128 contracts, while the September price increased rmb 48 to rmb 7,272 on 30,916 contracts.

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