The ferroalloy market experienced noticeable turbulence during the first half of March, with prices fluctuating across key regions due to a combination of weak demand from steelmakers and abundant inventories. This dynamic underscored the sector’s challenges amidst shifting market sentiments and regional disparities.
In China, ferrosilicon (75%) prices saw a modest decline of $7, settling at $870 per ton. The dip reflected growing market caution as uncertainty loomed over anticipated steel production cuts. Market participants appeared hesitant, awaiting clarity on policies and production plans before making significant transactions.
India followed a similar trend, with silico manganese prices slipping by $16 to $963 per ton. Despite this downturn, ferrochrome prices in the region exhibited resilience, increasing by $3 to reach $1,164 per ton. The increase was largely attributed to the influence of a recent auction, providing temporary support to prices in an otherwise subdued market.
Contrasting these developments, Europe witnessed a $40 increase in ferrosilicon prices, bringing the figure to $1,384 per ton. However, this rise highlighted a mismatch between sellers’ expectations and actual buyer interest. Despite the price uptick, demand remained lackluster, signaling persistent challenges in the European ferroalloy market.
Overall, the global ferroalloy market painted a mixed picture, with prices swaying under the weight of regional pressures and broader economic uncertainties. As market players navigate these complexities, attention is turning to potential policy changes, production adjustments, and demand patterns that may shape the trajectory of ferroalloy prices in the coming months.
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