February-march summary: Demand recovery slow price decline

in February-ferrosilicon in the producing areas of electricity prices, the impact of the Spring Festival holiday, inquiries and transactions are cold, the general demand after the holiday, steel pricing decline, production continued to decline and other factors, the price fell slightly. In terms of production this month: the latest statistics show that in February, there were 73 ferrosilicon producing enterprises in the country, and 253 ore producing heat furnaces. The total average operating rate of ferrosilicon in February was 53.26%, down 2.07% from January, and the production is expected to be 439,200 tons, down 31,300 tons from January and down 43,000 tons from the same period last year. The cumulative production in January-February 2024 was 909,700 tons, down 87,500 tons from the same period last year. The analysis of Hainan West Asia Import and Export Group believes that due to the slow process of steel mill resumption this year, the demand is slowly recovering, and the inventory of ferrosilicon after saving needs time to digest. In March, the market focused on the recovery of demand and the start-up of silicon plants, and the market operation was still under pressure. For more information about ferrosilicon and related ferroalloys, please pay attention to Hainan West Asia Import and Export Group Co., LTD.

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