- Firm raw material costs sustain market stability
- ZCE futures (Jan’26) slip slightly by $10/t w-o-w
CBC: Chinese ferro silicon prices remained unchanged across grades. Higher semi-coke and electricity prices provided cost support, while weak demand from the steel sector kept overall market sentiment subdued.
Prices of 72% silicon grade held steady w-o-w at RMB 5,260-5,500/t ($740-773/t) ex-factory, inclusive of taxes.
Prices of 75% silicon grade remained unchanged w-o-w at RMB 5,750-5,980/t ($808-841/t) ex-factory, inclusive of taxes.
Market recap
Firm input costs lend market support: Domestic ferro silicon prices held steady over the week amid a balance between cost and demand. Firm semi-coke prices and higher electricity costs in certain regions continued to provide cost support. With low inventory pressure, most producers preferred to maintain firm prices rather than offering discounts.
End-user sector shows subdued demand: Downstream demand remained sluggish, showing no signs of recovery. With steel mills entering their traditional off-season, restocking activity slowed further, accompanied by limited tender participation and reduced inquiries from traders. The lack of buying interest kept market activity subdued and restricted any price gains. The continued stand-off between buyers and sellers maintained a weak but stable market tone.
ZCE futures edge lower w-o-w: Ferro silicon futures on China’s Zhengzhou Commodity Exchange (ZCE) for January 2026 delivery ticked down by RMB 70/t ($10/t) w-o-w to RMB 5,490/t ($772/t) on 12 November, compared with RMB 5,560/t ($782/t) on 5 November.
Outlook
Ferro silicon prices are expected to remain range-bound, supported by firm production costs, while subdued demand from the steel sector will likely continue to cap any price gains.
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