Ferro silicon alloy is mainly used in the steel making and casting industries as a deoxidizing agent or an alloying agent. Global ferrosilicon consumption is about 12 million tons per year. In this article Ferrosilicon Price in the Chinese Market In 2022 & Price Analysis we introduce the main factors affecting the price of ferrosilicon. Here shares the current price of ferrosilicon and some tips to get a good quality ferrosilicon alloy at a low price.
Current Price of Ferro Silicon
Ferroalloy Online August 18, 2022, the price of the ferrosilicon spot market is chaotic, the futures opened sharply today, the spot market is still pretty uncertain, so the buyers are staying on the sidelines, and the high quotations of manufacturers have decreased, FeSi72 EXW￥ 7350-7500 yuan/ton (natural block). The price of FeSi75 has risen by 100-200 yuan/ton this week, FeSi75 EXW￥7800-8000 yuan/ton (natural block). As the price of downstream magnesium ingots rose sharply this week, the price of 75% ferrosilicon rose.
Production Situation of Ferro Silicon Manufacturers
Recently, the production of Chinese ferrosilicon manufacturers is relatively stable, (August 8 – August 14). The daily output of ferrosilicon is 13,476 tons, an increase of 247 tons from last week. The price of ferrosilicon72 fell slightly due to the decline in futures market and the low transaction volume in the spot market, and the lack of quotations from manufacturers. The price of ferrosilicon75 rose, and manufacturers quoted 7800-8000, up 200 yuan / ton.
Ferro Silicon Users Current Situation
- Steel mills: The bidding for steel mills ended in August, which was the same as last week’s purchase price.
- Magnesium plants: Magnesium plants are more motivated to purchase ferrosilicon due to the recent rise in magnesium prices.
In short, due to the increase in profits of steel, the enthusiasm of steel mills to resume production is gradually increasing. However, due to the influence of high-temperature weather, the south is in the peak period of electricity consumption. The recovery of ferrosilicon demand is limited. The price of magnesium metal has risen and the profit margin has improved, and we should pay attention to the procurement of ferrosilicon for magnesium plants.
There is no change in the ferrosilicon policy. It is expected that the market will mainly in a stable in the short term, and the price fluctuations will be limited.
How to Buy Ferrosilicon?
In order to buy high-quality and cheap ferrosilicon alloys, we need to pay attention to the following points.
- Cooperative manufacturers to ensure quality and stable supply.
- Rich experience in foreign trade.
- Knowing the ferrosilicon market one can buy the material at the right time.
How to Store Ferro Silicon?
We have introduced above that the price of ferrosilicon is affected by raw materials, electricity, supply and demand, and other factors. Therefore, in order to save costs, we recommend that traders with stable customers can purchase ferrosilicon in large quantities when the price is low.
Ferrosilicon storage needs to pay attention to the following issues。
- Ferrosilicon is packed in ton bags when stored. The ton bags are made of high-quality plastic woven bags, which are moisture-proof and waterproof.
- The stacking height of the ferrosilicon should not be too high, 4-6 layers are better, if there is enough space, it is better to be within 4 layers.
- The ferrosilicon is tightly sealed, and the block ferrosilicon is a product of various shapes, which is easy to puncture the bag. Avoid rubbing the bag during loading and unloading.
When ferrosilicon is stored under dry conditions, its oxygen content will change little, but when it is exposed to moisture in storage, it will have a serious tendency to oxidation. When the oxidized ferrosilicon is added to the molten steel, it will reduce its utilization rate, which means that will increase the amount of ferrosilicon, and produce more slag, thus increasing the cost.
ZXferroalloy is a leading manufacturer of ferroalloy in China. Anything needs on ferrosilicon, please contact without hesitation.