Due to continuous snowfall and highway closure, the main iron and silicon consumption areas (75%) in northwest China are in short supply. At present, the mainstream price of 75% ferrosilicon in China is the same as that at the beginning of last week.
Due to the tight spot supply, it is expected to snow this week. Industry insiders believe that the price of ferrosilicon in northwest China will rise slightly in the next week, with a minimum increase of 75%.
“Today, more than five old customers called me and asked me if I could provide them with 75% of the ferrosilicon stock. Because the heavy snow blocked the highway, they were worried about whether they could receive orders from suppliers in Ningxia and Inner Mongolia on time, a manufacturer in Shaanxi Province said on Tuesday. He added that he had no inventory at present, because he would not deliver all the orders before the end of this month.
As it snowed again on Wednesday and Thursday, he said that he believed that some customers who ordered 75% ferrosilicon from Inner Mongolia and Ningxia could hardly receive the goods on time, and predicted that the price of 75% ferrosilicon in Shaanxi would rise by 50 yuan/ton in the next week.
