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[Spot Market] The festival atmosphere is getting stronger and stronger, and the traders were less motivated to stock up or purchase. What’s more, the transportation was still not smooth due to last week’s heavy snow until this week. The deals were not good enough and words got out that some factories in the main producing areas halted productions. Big plants were still not to make offers and the general prices stayed stable currently. But it’s not excluded that there were suppliers would decreased prices under the financial pressure.

[Futures Market] The 2005 ferrosilicon contract price on ZCE opened at 5852, closed at 5800, and the highest price was 5866, the lowest price was 5762, the settlement price was 5790. The trading volumes were 106.5 thousand tons and the position was 45518. 

[Steel] As the Spring Festival is nearer and nearer, the demand for steel is lighter and lighter. Recently the price of finished steel stayed stable and the steel mills remain consolidation. It’s expected that the price would not fluctuate sharply.

[Magnesium Metal] The magnesium metal market still remained weakly stable. The transportation was not smooth due to the weather and there were not many deals. The price of 99.90% magnesium ingot in Shaanxi Fugu was around 14000 yuan per ton.

• [Editor:kangmingfei]