Indian prices for silicomanganese (53%) have started to decline after February’s growth. In the first half of March, they fell by $16/t to $963/t EXW Durgapur. Ferrochrome offers (60%) grew by only $3/t to $1,164/t EXW Durgapur.
The stability in this segment is explained by the results of the auction held on March 7 by the large metallurgical company Vedanta. It purchased a large batch of ferrochrome at $1,149/t EXW Durgapur.
European offers for ferrosilicon (75%) have increased by $40/t since mid-February to $1,384/t SFR Rotterdam. However, the trend does not reflect the situation on the market. «Many large sellers are really trying to raise prices, claiming that they are losing money on each sale, but buyers are not interested,» comments American analyst A. Patrick.
The Chinese and European markets are facing the problem of slow growth in demand for steel. This has led to a decrease in demand for ferroalloys. Weak demand from end consumers in Europe in 2024 contributed to an increase in supply and a decrease in prices at the beginning of this year.
Recall that in Ukraine, all production and mining enterprises of the ferroalloy industry are idle. The reasons are the close location to the front line and the high cost of electricity. Ukrainian metallurgical plants are in a similar situation, but continue to work.
Courtesy : https://gmk.center/
