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 [Ferro-Alloys.com] In the week ended Friday November 15, the ferrosilicon market still kept weakly steady, with the price changed little and the transactions not very good. The demand still didn't improve and the whole market was in a bearish mood.

Currently, the ferrosilicon price drew near the cost line. There were factories said it got more difficult for them to operate when the raw materials price unchanged.

The tender price of November was released in succession, down by around 80 yuan per ton on average than last month, which made suppliers more low-spirited. Although it said that there would be more factories cut production, people were still pessimistic about the future market if the demand still soft and the production-cuts insufficient.

[Spot Price] 75#: 5700-5800 yuan per ton in Inner Mongolia and Gansu; 5600-5700 yuan per ton in Ningxia and Qinghai; 72#: 5400-5500 yuan per ton in the major producing area.

[Ferrosilicon Futures 2001 Contract] Opening price: 5702; Highest price: 5740; Lowest price: 5624; Closing price: 5726; Settlement price: 5712, and the trading volumes and positions fluctuated.

[Steel] In this week, the domestic steel price increased generally in demand, and the profitability turned around. But it should be noted that November was traditional dull season for steel mills, the downstream demand and destocking may influence the future trend.

• [Editor:kangmingfei]