FeSi Price in China Further Intensifies An Upward Trend =...

FeSi Price in China Further Intensifies An Upward Trend
= Ningxia and Inner Mongolia Strengthen Restriction =
According to the local news report, the ferro-silicon price in China intensifies an upward trend again.

In China, the spot price soared today, because a tight feeling for ferro-silicon further intensifies by the following factors: (1) Because there is an expectation that the crude steel production volume in China in June on a monthly basis will be the largest number ever, the demand for ferroalloy as raw materials intensifies; (2) A new restriction for operation was issued in Ningxia autonomous region on June 11; (3) Because electricity consumption at several areas in Inner Mongolia autonomous region exceeded the limit on June 10, it is regarded as a problem; and (4) Although the purchase of June contracts by Chinese steelmakers becomes serious this week, many of them could not procure the desired volume.

As of now, the three-month and the six-month futures contract prices also increase drastically, and the possibility that the current upward trend will be prolonged.