Ferrosilicon market week 19–26/09/2025

This week, the ferrosilicon futures market experienced volatile fluctuations, while spot prices remained stable with a slight increase. At the beginning of the week, the rise in semi-coke prices strengthened cost support for ferrosilicon, leading to volatile movements in the futures market. Downstream buyers seized opportunities to fix prices and make purchases, though the pre-holiday stocking atmosphere was generally subdued, with transactions maintaining a routine pace. Due to continued tight supply of Ferrosilicon 75#, the Shaanxi region once again raised its quoted prices to 6,150-6,200 CNY/Ton, and other production areas gradually followed suit with price adjustments. By the end of the week, market prices were reported at 5,250-5,400 CNY/Ton for 72# and 6,000-6,200 CNY/Ton for 75# ferrosilicon (ex-work by cash, natural lumpy), with the price of 75# increasing by 50-150 CNY/Ton.

Steel Bidding:

Export market this week: Domestic ferrosilicon prices remain relatively firm, with export offers at FOB 72#1,050-1,070 USD/Ton and 75# 1,120-1,150 USD/Ton, up by 10 USD/Ton. At the ports, Russian ferrosilicon 75# is quoted at 1,090 USD/Ton, an increase of 10-20 USD/Ton. Malaysian ferrosilicon 75# is priced at 1,060-1,070 USD/Ton CFR Japan. Chinese ferrosilicon exports currently lack a competitive advantage. In India, the price for ferrosilicon 70# stands at 86,000-90,000 Rs/Ton, with no changes for now.

Downstream market: Magnesium metal: This week, magnesium metal prices initially fell before stabilizing, with transaction prices concentrated between 16,600 and 16,700 CNY/Ton. With the approach of the long holiday, despite relatively weak end-user demand, downstream demand continued to surge, prompting an improvement in inquiries and trading volume at the start of the week. However, the market settled into a more passive position later in the week, with a wait-and-see approach prevailing.

Next week’s forecast: From a cost perspective, semi-coke prices have stabilized after this week's price increase. With electricity price adjustments in focus, costs remain relatively supportive. From a supply perspective, this week saw both production resumptions and furnace maintenance, resulting in minimal fluctuations in daily output. From a demand perspective, downstream manufacturers maintained regular purchases ahead of the holiday, resulting in fewer stockpiles. With the upcoming holiday next week, market fluctuations are expected to be minimal