China: Ferro silicon stable w-o-w amid slow demand recovery | BigMint

Inventory levels rise but sellers adopt cautious approach

ZCE futures for May delivery decline by $11/t w-o-w

CBC: Prices of ferro silicon remained largely stable, reflecting a steady but slow recovery in end-use demand.

Grade 72% silicon: Prices inched down by RMB 65/t ($9/t) to RMB 5,920-6,100/tonne (t) ($818-843/t) ex-factory, inclusive of taxes.

Grade 75% silicon: Prices dropped by RMB 70/t ($10/t) to RMB 6,190-6,380/t ($855-881/t).

Market updates

Marginally stable prices amid gradual demand recovery: Prices of ferro silicon remained stable as the market experienced a gradual recovery in end-use demand. Although the pace of recovery is slow, there are still positive expectations of future demand growth, supported by anticipated improvements in the domestic macro-economy. Currently, inventory levels continue to rise, but traders are adopting a cautious approach, shipping in moderation and realising profits when possible.

Cautious sentiment and inventory control: While downstream inquiries and price queries are increasing, the overall inventory pressure remains manageable. The market sentiment, however, remained cautious, as participants were wary of potential uncertainties. This caution is reflected in the careful management of inventory levels and the slow pace of operations. As the supply-demand balance gradually improves, the ferro silicon market is expected to remain stable, possibly with minor fluctuations, but no significant price changes are expected in the short term.

ZCE futures edge down: On 12 March, ferro silicon prices on the Zhengzhou Commodity Exchange (ZCE) for May 2025 delivery inched down by RMB 82/t ($11/t) w-o-w to RMB 5,994/t ($828/t) from RMB 6,076($839/t).

Outlook

In the short term, the ferro silicon market is expected to remain stable with slight price adjustments, while longer-term demand may see gradual improvement.

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CBC: Prices of ferro silicon remained largely stable, reflecting a steady but slow recovery in end-use demand.

Grade 72% silicon: Prices inched down by RMB 65/t ($9/t) to RMB 5,920-6,100/tonne (t) ($818-843/t) ex-factory, inclusive of taxes.

Grade 75% silicon: Prices dropped by RMB 70/t ($10/t) to RMB 6,190-6,380/t ($855-881/t).

Market updates

Marginally stable prices amid gradual demand recovery: Prices of ferro silicon remained stable as the market experienced a gradual recovery in end-use demand. Although the pace of recovery is slow, there are still positive expectations of future demand growth, supported by anticipated improvements in the domestic macro-economy. Currently, inventory levels continue to rise, but traders are adopting a cautious approach, shipping in moderation and realising profits when possible.

Cautious sentiment and inventory control: While downstream inquiries and price queries are increasing, the overall inventory pressure remains manageable. The market sentiment, however, remained cautious, as participants were wary of potential uncertainties. This caution is reflected in the careful management of inventory levels and the slow pace of operations. As the supply-demand balance gradually improves, the ferro silicon market is expected to remain stable, possibly with minor fluctuations, but no significant price changes are expected in the short term.

ZCE futures edge down: On 12 March, ferro silicon prices on the Zhengzhou Commodity Exchange (ZCE) for May 2025 delivery inched down by RMB 82/t ($11/t) w-o-w to RMB 5,994/t ($828/t) from RMB 6,076($839/t).

Outlook

In the short term, the ferro silicon market is expected to remain stable with slight price adjustments, while longer-term demand may see gradual improvement.

CBC:Grade 72% silicon:Grade 75% silicon:Market updatesMarginally stable prices amid gradual demand recovery:Cautious sentiment and inventory control:ZCE futures edge down:Outlook