Ferroalloys to go up on stronger finished steel prices in North Africa

摘要

Indian suppliers raised their prices in December on higher logistics costs and tight supply of ferroalloys for prompt shipment. Indian SiMn (65 Mn; 16 Si) was quoted at $1,030/t CIF versus $960/t CIF a month earlier. According to Metal Expert data, steel output in North Africa will recover by 20?30 quarter-on-quarter to 3.2?3.4 million t in Q4 2020. The uptrend in raw material, semis and longs prices in the global market is stimulating a rise in tags for North African steel products. Egyptian rebar prices rose by around $55/t in December. Rolled steel prices in Algeria hit an all-time high as well. Big ferroalloy shipments to the region were made in late Q3 - early Q4 at low prices, so higher levels are quite likely to be accepted in the future.