Global ferroalloy prices decline in first half of March

In the first half of March, spot prices for ferrosilicon (75%) in China fell by $7/t to $870/t EXW, according to BigMint. Market sentiment remained cautious as participants worried about potential uncertainty. Futures prices on the Zhengzhou Commodity Exchange (ZCE) fell by $11/t to $828/t for May delivery.

The uncertainty is linked to the announced decision by the National Reform Commission to close 50 million tonnes of steelmaking capacity this year. It was not announced how the commission intends to achieve this. Traders expect only a minor price adjustment in the Chinese ferrosilicon market in the short term.

Indian prices for silicomanganese (53%) have started to decline after February’s growth. In the first half of March, they fell by $16/t to $963/t EXW Durgapur. Ferrochrome offers (60%) grew by only $3/t to $1,164/t EXW Durgapur.

The stability in this segment is explained by the results of the auction held on March 7 by the large metallurgical company Vedanta. It purchased a large batch of ferrochrome at $1,149/t EXW Durgapur.

European offers for ferrosilicon (75%) have increased by $40/t since mid-February to $1,384/t SFR Rotterdam. However, the trend does not reflect the situation on the market. «Many large sellers are really trying to raise prices, claiming that they are losing money on each sale, but buyers are not interested,» comments American analyst A. Patrick.

The Chinese and European markets are facing the problem of slow growth in demand for steel. This has led to a decrease in demand for ferroalloys. Weak demand from end consumers in Europe in 2024 contributed to an increase in supply and a decrease in prices at the beginning of this year.

Recall that in Ukraine, all production and mining enterprises of the ferroalloy industry are idle. The reasons are the close location to the front line and the high cost of electricity. Ukrainian metallurgical plants are in a similar situation, but continue to work.

  • Global Market

Turkey increased steel production by 7% y/y in April

In April 2025, steel enterprises in Turkey increased steel production by 7% compared to April…

Saturday May 31, 2025
  • Global Market

EU imposes final anti-dumping duties on tinplate from China

The European Commission (EC) has announced its decision to impose final anti-dumping duties on imports…

Friday May 30, 2025
  • Companies

Poland’s JSW exceeded plans for coal production and sales in Q1

Poland's Jastrzębska Spółka Węglowa (JSW), the largest coking coal producer in the EU, has announced…

Friday May 30, 2025
  • Global Market

Turkey increased steel exports by 14.4% y/y in April

In April, Turkey increased steel exports by 14.4% y/y – to 1.2 million tons. In…

Friday May 30, 2025
  • Global Market

The EU has almost exhausted its annual quota for imports of Russian pig iron in 3 months

In the first quarter of 2025, European companies almost exhausted the annual quota for imports…

Friday May 30, 2025
  • Companies

Nippon Steel to invest $6 billion in electric arc furnaces at three plants in Japan

Japanese steelmaker Nippon Steel plans to invest almost JPY870 billion ($6.05 billion) in the introduction…

Friday May 30, 2025