- Inventory pressure manageable in cautious market
- ZCE ferro silicon futures inch down $2/t w-o-w
CBC: Chinese ferro silicon prices remained unchanged on steady downstream demand recovery.
Grade 72% silicon: Prices were unchanged at RMB 5,860-6,030/t ($797-820/t) ex-factory, inclusive of taxes.
Grade 75% silicon: Prices remained static at RMB 6,120-6,310/t ($833-859/t).
Market updates
Markets stable amid demand recovery: The ferro silicon market remained stable as end-user demand continues its slow but steady recovery. Although the pace of recovery is modest, there is growing optimism about future demand and the broader domestic economic outlook. Downstream buyers are beginning to show more interest, with an increase in both inquiries and price checks. This activity reflects a cautious but positive sentiment that could support stable pricing in the near term.
Inventory pressure manageable: Despite continued inventory accumulation, pressure remains manageable. Traders adopted a more conservative approach, focusing on moderate shipments and timely profit realisation rather than aggressive selling. This cautious strategy indicates a desire to avoid risks while maintaining liquidity. Overall, while market sentiment remains restrained, stable supply and controlled inventory levels are helping maintain equilibrium.
ZCE futures edge up: On 9 April, ferro silicon prices on the Zhengzhou Commodity Exchange (ZCE) for May 2025 delivery inched up by RMB 24/t ($3/t) w-o-w to RMB 5,904/t ($804/t) from RMB 5,880 ($800/t).
Outlook
The ferro silicon market may remain stable in the short term, with minor price fluctuations possible. However, supply-demand balance is improving, inventories are dropping, and costs stabilising, supporting a cautiously optimistic outlook for modest growth.
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