Ferro Silicon Price Analysis In 2023 and Outlook In 2024

In 2023, due to the low demand and the slowdown in domestic and foreign economic growth at home and abroad, internal and external factors were jointly affected.

Ferro silicon was slowly falling throughout the year, the price fluctuations were narrowed, the average annual price continued to move down, and the profit margin continued to compress. In terms of supply, there is no energy consumption and environmental protection policy factors. The start of construction is mainly adjusted by profit, and profit compression has led to a year-on-year decline in supply. It is expected that the supply and demand in the first half of 2024 will be weak, and the new production capacity will be put into operation gradually.

ferro silicon price in 2023 Chinese Market

In 2023, due to the low demand and the slowdown in domestic and foreign economic growth at home and abroad, the ferrosilicon was slowly falling throughout the year. According to the online data of iron alloy, the average annual price of ferro silicon in 2023 was 72#7130 yuan/ton, a average price of 1220 yuan/ton from 22 years, a decrease of 14.61%; the average annual price of 75# Yuan/ton, a drop of 15.37%.

From the perspective of volatility (taking Inner Mongolia as an example), the highest price of the year appeared at the beginning of the year, and the price was 72#8100,75#8600 yuan/ton. The lowest price of the year appeared at the end of the year. The price was 72#6550,75#7000 yuan/ton, The high and low price difference is 72#1550,75#1600 yuan/ton, a high and low price difference between 22 years 72#3000, 75#4300 yuan/ton narrowed 1450-2700 yuan/ton.

Ferro Silicon Price in 2023

At the beginning of the year to the end of July continued to fall. First, the epidemic is over, the domestic economy is expected to fall into a weak reality, the economic operation pressure is under great pressure, and the consumption of people’s confidence has declined. Third, the demand performance is sluggish.

The demand for steel mills is still available but the raw materials for steel mills remain low. The export and casting demand is sluggish.

The domestic profit and air factors dominate, and the market price continues to fall. As of late July, the price of Ferro silicon was leaned out of the factory at 72#6600-6800, 75#7000-7100 yuan/ton cash, down 1400-1500 yuan/ton from the beginning of the year, down 17.5%-17.64%.

The second stage: (August -at the end of September) Climbing steadily. One is the energy consumption of Qinghai and Shizui Mountain in the market. In 72#7000-7150, 75#7500-7700 yuan/ton, it increased by 400-600 yuan/ton from the end of July, an increase of 6.06%-8.57%.

Third stage: (October -at the end of December) shake down. First, the price of raw materials declines, the center of gravity of ferro-silicon is moved down, and the second that output of ferro silicon continues to increase. The output of steel mills continues to decline. As of the end of December, the price of ferro silicon was 72#6350-6600,75#6900-7100 yuan/ton, down 600 yuan/ton from the end of September, a decrease of 8%.

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