Ferrosilicon Market Situation from April 14 to 18, 2025
Ferrosilicon prices have been falling this week, and manufacturers are having a harder time. The selling price has fallen below the cost line, and many factories are losing money on every ton they produce. Some factories can no longer hold on and have started to shut down for maintenance, while others have simply switched to other products. However, there has been no large-scale shutdown of production so far.
The price of raw materials for ferrosilicon has not changed much, and the production cost is relatively stable. However, the purchasing prices of steel mills are getting lower and lower. Shagang’s purchasing price is 6,110 yuan/ton (including deferred payment), and Longteng Steel’s purchasing price has dropped to between 5,950-6,000 yuan, both of which have set the lowest record in the past five years. Now the market price of ferrosilicon72 is 5,500-5,600 yuan, and ferrosilicon75 is 6,000-6,050 yuan (cash on delivery), which is 50-100 yuan lower than last week.
What is more troublesome is that the ferrosilicon futures market is still falling, and some buyers took the opportunity to sign contracts with lower futures prices, resulting in lower and lower prices for orders received by ferrosilicon factories. Now manufacturers can only adjust their quotations downward, but everyone is not willing to take the initiative to quote, and they are all waiting to see market changes. At present, everyone is waiting for the pricing of Hesteel Group, a major purchaser, to come out, and it is estimated that the price of ferrosilicon may continue to fall.
Export market situation this week of ferrosilicon from China
This week, foreign business is not peaceful. Five domestic departments suddenly joined forces to investigate taxes. Exporters have become cautious in accepting orders. Some exporters have changed suppliers due to price increases. Although the external quotation of ferrosilicon has increased a bit, the market is very chaotic. Ferrosilicon72 sells for US$1060-1090 per ton, and ferrosilicon75 sells for US$1130-1150. Some people also offer a high price of US$1200 for ferrosilicon 75. The price of ferrosilicon 75 in Russia is slightly lower, at around US$1090-1100.
The Indian market is still very stable, and the price of ferrosilicon 70 remains at 96,000 to 98,000 Indian rupees per ton, with no major fluctuations for the time being.
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Magnesium metal market downstream of ferrosilicon
This week, the price of magnesium ingots was very unstable. The market was quiet in the first half of the week, and both buyers and sellers were waiting and watching. Some merchants who were eager to sell pushed the price down to 16,200 yuan/ton to barely make a deal. Later, because the export cargo ship was in a hurry, the price suddenly rebounded, and downstream buyers rushed in to buy goods, and even merchants who had previously stockpiled goods joined in the rush to buy. The factory’s quotation suddenly became active, and the transaction price rushed to 16,600-16,700 yuan. However, by Friday, everyone found that the quotation of 16,800 yuan was a bit high, and the trading enthusiasm dropped again.
Outlook for next week’s ferrosilicon market for Chinese exporters
Cost: Raw material prices are temporarily stable, Ningxia may still reduce electricity charges, but short-term costs will not fluctuate too much, and the focus will be on the results of subsequent electricity price adjustments.
Supply: This week, some factories have stopped production for maintenance or switched to other products, and daily output is expected to be a little less.
Demand: Steel mills are still bidding, but magnesium plants are slowing down in purchasing, and export business is also tepid.
Now that prices have fallen below the cost line, it is estimated that the market will enter a stalemate next week. Focus on the bidding pricing of steel mills and the resumption of work in factories. The overall price may temporarily stabilize and not fall.