Market Hotspot Express-August 4th to 6th
European market
European silicomanganese (65%Mn; 16-17%Si) is quoted in the range of 1100-1170€/tDDP, compared to 1200-1250€/tDDP a week ago. High carbon ferromanganese (75%Mn) is quoted at 1130-1180€/tDDP (previously 1200-1250€/tDDP). Ferrosilicon (75%Si) prices also continue to fall, with quotes in the range of 1390-1440€/tDDP (previously 1430-1450€/tDDP).
Maritime transport
According to the Shanghai Shipping Exchange on August 2, this week, China's export container transport market was basically stable, transport demand showed signs of slowing growth, and market freight rates continued to adjust. On European routes, transport demand was basically stable, and spot market booking prices fell slightly. On North American routes, transport demand lacked further growth momentum, supply and demand fundamentals weakened, and market freight rates continued to adjust. On the Persian Gulf route, transport demand remained high, supply and demand remained balanced, and market freight rates operated smoothly.
China Steel Trade Industry
Data from the CELP Steel Logistics Professional Committee (CSLPC) showed that China's steel industry business activity index (PMI) fell to 42.5 in July, the lowest level since June 2023. The decline in the index was due to a seasonal decline in demand due to high temperatures and rainfall, as well as the introduction of new standards, which weakened market sentiment.
International oil price
International crude oil prices plunged to their lowest level in eight months on fears of a global recession, with West Texas Intermediate (WT) crude for September delivery on the New York Mercantile Exchange falling $2.79 (3.66%) to $73.52 a barrel.
- Previous：Market Hotspot Express- Nov 4 to Nov 8
- Next：South Africa's Melafi Group announced that its total ferrochrome production in the first half of 2024 was 154,000 tons, a year-on-year decrease of 17%.
- ·Market Hotspot Express- Nov 4 to Nov 8
- ·Market Hotspot Express-August 4th to 6th
- ·South Africa's Melafi Group announced that its total ferrochrome production in the first half of 2024 was 154,000 tons, a year-on-year decrease of 17%.
- ·There is little business activity in the European SiMn and FeSi markets
- ·Eurozone economy to be at 'clear stagnation' for remainder of 2023
- ·Prices in the European ferrotitanium market have increased
- ·Ferrosilicon 75 FOB price 1,330-1,360 US dollars / ton
- ·Tsingshan raises $41/t tender price for September ferrochrome .
- ·High-carbon ferrochromium market remains strong and looks forward to rising sentiment
- ·South Korea's import price of silicon metal rose slightly
