- Firm raw material costs support price stability
- ZCE futures (Jan’26) drop slightly by $4/t w-o-w
CBC: Chinese ferro silicon prices — for both the 72% and 75% silicon grades — remained unchanged in the week ended 20 November, supported by firm costs and steady operating rates, while weak steel demand limited any upward price movement.
The 72% grade was at RMB 5,260-5,500/t ($740-774/t) ex-factory, including taxes, while the 75% grade was assessed at RMB 5,750-5,980/t ($809-841/t) ex-factory, inclusive of taxes
Market updates
Firm coke, rising power costs support prices: The domestic ferro silicon market remained stable, supported by steady operating rates across most producers. While maintenance shutdowns at some plants caused a slight dip in output, overall supply remained elevated. Additionally, firm semi-coke prices and higher electricity costs continued to offer strong cost support, limiting any downward movement in prices.
Soft end-user demand weighs on market: On the demand side, steel mills continued essential procurement, while there was some support from non-steel sectors. However, weak downstream steel consumption restricted any meaningful price gains. Expectations of environmental protection-related production restrictions further kept buyers cautious, leaving prices largely range-bound.
ZCE futures ease slightly w-o-w: Ferro silicon futures on China’s Zhengzhou Commodity Exchange (ZCE) for January 2026 delivery ticked down by RMB 28/t ($4/t) w-o-w to RMB 5,462/t ($768/t) on 19 November compared to RMB 5,490/t ($772/t) on 12 November.
Outlook
Ferro silicon prices are expected to remain range-bound in the near term, with firm raw material costs supporting the market, while subdued steel demand will likely cap any upward momentum.
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