- Reduced output and rising costs keep prices firm
- ZCE futures (Jan’26) inch down by $10/t w-o-w
CBC: Chinese ferrosilicon prices remained unchanged across grades, supported by tighter supply and firm production costs. However, weak downstream and export demand limited upward price movement.
Prices of 72% silicon grade remained flat w-o-w at RMB 5,260-5,500/t ($742-777/t) ex-factory, inclusive of taxes.
Prices of 75% silicon grade held steady w-o-w at RMB 5,750-5,980/t ($812-845/t) ex-factory, inclusive of taxes.
Market updates
Tight supply and higher costs support stability: The domestic ferrosilicon market remained stable, supported by tighter supply as some producers reduced or suspended operations. Expectations of stricter environmental controls during the winter period further eased supply pressure. Meanwhile, rising thermal coal prices and higher raw material costs have strengthened overall cost support and kept producers’ pricing firm.
Seasonal slowdown weighs on market sentiment: Demand remained weak. The downstream steel industry has entered its seasonal off-peak period, reducing purchasing interest, while exports also softened due to seasonal factors. As a result, upward momentum in prices was limited, keeping the overall market steady.
ZCE futures inch down w-o-w: Ferro silicon futures on China’s Zhengzhou Commodity Exchange (ZCE) for January 2026 delivery fell slightly by RMB 70/t ($10/t) w-o-w to RMB 5,392/t ($761/t) on 26 November compared to RMB 5,462/t ($771/t) on 19 November.
Outlook
In the short term, the ferrosilicon market is expected to remain range-bound. Slight supply tightening and firm costs will support prices, while weak demand will likely continue to cap price gains.
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