2023 Ferro Silicon Magnesium Price Trend Analysis on China Market

Ferro Silicon Magnesium (FeSiMg). China is rich in rare earth resources, and ferro silicon magnesium is mainly used to produce ductile iron.

FeSiMg Composition

ferro silicon magnesium specification
ferro silicon magnesium
ferro silicon magnesium FeSiMg

Ferro Silicon Magnesium Production

Affected by the typhoon, some rare earth ferro silicon magnesium manufacturers in North China stopped production

Affected by the remnant circulation of the No. 5 typhoon “Dusuri” this year, large-scale heavy rainfall occurred in Beijing, Tianjin, Hebei, and other places, causing floods and geological disasters. Some areas “cut off water, power, and communication.” Most rare earth magnesium factories, foundries, and steel mills in Shanxi, Henan, and other places stopped production for rest, and the time for resumption of production is to be determined.

The rare earth magnesium market in other regions has not improved much. Under the weak and stable raw material market, downstream factories are less inclined to buy goods, and basically use them as they choose, and the bearish sentiment in the industry is still strong. If there is no other positive stimulus, the game of rare earth magnesium will continue, and it may maintain stable operation in the short term.

Ferro Silicon Magnesium Prices

2023.8.3, the ex-factory price of 3-8 cash including tax in the Inner Mongolia area of rare earth ferro silicon magnesium is 8500-8800 yuan/ton, the ex-factory price of 5-8 cash including tax is 8800-9000 yuan/ton; the ex-factory price of 3-8 cash including tax in Jiangsu area is 9500-9800 yuan/ton Ton, 5-8 cash including tax ex-factory price 9800-10000 yuan/ton.

The market price of rare earth alloys is stable. The mainstream price of rare earth silicon 30# one-step method is 8000-8500 yuan/ton, the mainstream price of 30# two-step method is 12800-13200 yuan/ton, and the mainstream price of 23# two-step method is stable at 10500-11000 yuan/ton; the mainstream quotation of rare earth magnesium 3-8 is 8500-9800 or 100 yuan/ton, and the mainstream quotation of 5-8 is 8800-10000 or 350 yuan/ton (cash includes tax).

The market price of ferrosilicon is 72#6600-6750, 75#7000-7200, and 65#6400 yuan/ton, and the cash natural block leaves the factory, with little change. The futures market fluctuated within a narrow range, with limited ups and downs. The downstream maintains the rhythm of rigid demand procurement, and the small and medium-sized factories in the main production areas maintain the order list, and the delivery warehouse has 24,189 warehouse receipts yesterday. In August, steel recruitment was promoted, Nangang, Baosteel, and Shanshan Iron and Steel issued procurement bids, and Xinyu failed to bid yesterday, and neither the supply nor the demand reached the psychological price. Before the settlement of the electricity price is clear, it is expected that the market price will not be significantly adjusted.

Today, the ex-factory price of 30# one-step method cash including tax in Inner Mongolia area of rare earth silicon is 8000-8500 yuan/ton, the factory price of 30# two-step method cash including tax is 12800-13200 yuan/ton; 11,000 yuan/ton; yttrium-based heavy rare earth silicon REO30 (Y50%-Y60%) ex-factory price 35,000-36,000 yuan/ton in cash including tax; factory price of alloy grade lanthanum cerium metal 18,000-19,000 yuan/ton including tax in cash.

During the off-season of foundry, the demand for raw materials from downstream manufacturers is not good, and they are still relatively rational in purchasing. The market is getting worse, and there is no positive aspect for the time being. It is expected that the market will run weakly and stably.

Magnesium ingot market is weakly adjusted, the factory quotations are mostly at 21,000 yuan, and the transaction is at 20,800-20,900 yuan. Some trading companies said that the current quotations are more in line with the market, and they are not overly bearish on the market outlook. However, there is no obvious release of downstream orders recently, and the market is inquiring about low-price sentiment. Obviously, there is still a slight downside possibility in the market outlook, and we still need to pay attention to the market transactions in the latter part of the week.

The price of raw materials is stable, and the pressure on the cost of rare earth alloys is tentative. Various manufacturers say that they will not adjust the price for the time being. The main reason is that the demand problem cannot be released. The demand for inquiries and transactions in the downstream market is deserted, the contradiction between supply and demand in the market is prominent, and the current market demand is weak. In addition to the normalized environmental protection issues, downstream manufacturers are not very motivated to purchase, and the market price fluctuations are not too large. Except for fixed purchases, The shipments of large and small factories have not changed, and it is expected that the market will remain stable in the later period.

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