- Firm coke tags, rising power costs support prices
- ZCE futures (Jan’26) ease slightly by $4/t w-o-w
CBC: Chinese ferro silicon prices remained stable w-o-w, supported by steady semi-coke prices and rising electricity costs. However, weak demand from steel mills and high inventories kept market activity subdued, with most producers focusing on existing orders.
Prices of 72% silicon grade held firm w-o-w at RMB 5,260-5,500/t ($738-772/t) ex-factory, inclusive of taxes.
Prices of 75% silicon grade remained unchanged w-o-w at RMB 5,750-5,980/t ($807-839/t) ex-factory, inclusive of taxes.
Market updates
Stable coke prices provide cost support: Ferro silicon prices remained largely stable, reflecting the ongoing balance between firm production costs and sluggish market demand. Semi-coke prices were steady, and electricity rates in certain regions increased, offering cost support to producers.
Steel mills enter off-season: Downstream steel mills have entered the off-season, leading to limited restocking activity, while high inventory levels across the industry continued to cap price gains. The market remained balanced between firm production costs and weak demand, with most producers focused on completing existing orders.
ZCE futures tick down w-o-w: Ferro silicon futures on China’s Zhengzhou Commodity Exchange (ZCE) for January 2026 delivery edged down by RMB 34/t ($4/t) w-o-w to RMB 5,560/t ($780/t) on 5 November, compared with RMB 5,594/t ($785/t) on 29 October.
Outlook
Ferro silicon prices are expected to remain range-bound in the near term, with firm costs providing support, while weak demand could limit price gains. Any improvement in end-user demand could lift market sentiment.
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