- Stable prices amid unchanged market dynamics
- ZCE futures (Apr’26) edge lower by $20/t w-o-w
Ferro silicon (Si 75%) prices in China remained flat w-o-w at RMB 5,260-5,500/t ($762-797/t) ex-factory, inclusive of taxes. Similarly, Si 72% prices held steady at RMB 5,750-5,900/t ($833-855/t) ex-factory, inclusive of taxes.
The market remained largely stable, supported by stable production and largely completed downstream stocking. Weak buying interest and subdued activity kept spot transactions limited, maintaining stable prices.
Market updates
Pre holiday slowdown dampens market activity: Ferro silicon prices remained largely stable, with no significant changes in market fundamentals. Smelter production levels were steady, and output showed no notable fluctuations. On the demand side, most downstream steel mills and traders had already completed their stocking and were entering a market slowdown phase, leading to weaker buying interest and limited spot transactions for immediate requirements.
Although the futures market saw some volatility, its impact on the spot market was limited. With the holidays approaching and no new developments to influence sentiment, overall trading activity remained subdued. The ongoing stalemate between buyers and sellers kept market momentum weak, resulting in stable prices.
ZCE futures inch down w-o-w: Ferro silicon futures for April 2026 delivery on China’s Zhengzhou Commodity Exchange (ZCE) fell slightly by RMB 136/t ($20/t) w-o-w to RMB 5,516/t ($799/t) on 12 February, from RMB 5,652/t ($819/t) on 5 February.
Outlook
The ferro silicon market is expected to remain largely stable in the near term, with stable operating rates. However, holiday-related shutdowns ahead of the Spring Festival will likely keep demand weak and trading volumes limited.
(With inputs from CBC)
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