China puts on the brakes

摘要

With third quarter contract negotiations still a week or two away arid many players in China for a ferroalloy conference, new business in ferrosilicon is currently at a law ebb. Traders report a quiet market, slack demand and dull prices, with disappointingly little support from a weaker dollar. Many have pushed their expectations of recovery back to the fourth quarter. Spot terms for mainstream sales in Europe have continued to hold above euros 600/tonne, and most dealers are still quoting prices in the region of 6610/tonne, or even euros 620/tonne for good quality product in appropriate locations. There are, however, persistent reports of material being offered well below euros 600/tonne, with competitors pointing to the Russians as the source.