- Market sentiment improves, but spot prices remain stable
- ZCE Mar’26 futures inched up $24/t w-o-w
Prices of 72% silicon grade remained flat w-o-w at RMB 5,260-5,500/t ($751-786/t) ex-factory, inclusive of taxes, while prices of 75% silicon grade remained unchanged w-o-w at RMB 5,700-5,930/t ($814-847/t) ex-factory, inclusive of taxes.
Ferro silicon prices remained stable, supported by improved futures sentiment and slightly higher steel mill bids, though spot prices showed limited response. Balanced supply–demand conditions and cautious buying kept the market steady.
Market updates
Steady procurement and cautious buying keep prices stable: Domestic ferrosilicon prices remained stable. A recent surge in the futures market lifted sentiment, and higher bids from some steel mills provided limited support, though the spot market did not fully follow the uptrend.
Overall, supply and demand stayed relatively balanced. Maintenance and production restarts among suppliers offset each other, while steel mills maintained steady procurement. Other buyers remained cautious, with weak high-priced transactions, keeping spot prices stable.
ZCE futures inch up w-o-w: Ferro silicon futures on China’s Zhengzhou Commodity Exchange (ZCE) for March 2026 delivery inched up by RMB 188/t ($27/t) w-o-w to RMB 5,860/t ($837/t) on 31 December 2025 compared to RMB 5,672/t ($823/t) on 7 January 2026.
Outlook
Ferro silicon prices are likely to remain range-bound in the near term. While improved futures sentiment and steady steel mill procurement may offer some support, cautious spot market buying is expected to limit any significant upside.
(With inputs from CBC)
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