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The European ferro-silicon market moved up by almost 5% over the week to Friday June 11, with new deals reported by both traders and producers amid tight domestic supplies, limited replacement options from overseas and steady demand, according to trade sources.
There has been reduced domestic production in Europe since Ferroglobe idled its production in late 2019, with only a small amount of output having been brought back onstream since then, sources said.
And with third-quarter delivery settlements reported to have been agreed at prices above the record-high for the period Fastmarkets has been assessing the price, starting more than 24 years ago, the spot market seems likely to match that level in the near future, sources said.
“We are sold out through July and August and we have sold about 600 tonnes for shipment in the fourth quarter,” one European ferro-silicon producer told Fastmarkets.
“We are hearing offer prices that are all over the place, between €1,600 and €1,800 [$1,937-2,179] per tonne. Consumers in the steel sector are worried about getting feedstock material and, with their production rates at very good levels, they should be worried,” the producer source added.
Source: Fastmarket
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