Over the course of the past month, US domestic ferrosilicon prices increased with support from global movements including those in China and Europe. Chinese domestic and export ferrosilicon prices both hit record highs, but in the past week those prices have softened as consumers are adopting a wait and see approach due to the rapid surge and expectations of lower prices in January. The surge in prices is attributed to limited supplies given the Chinese production cuts in various industries due to environmental policies.
Sources inform SteelOrbis that US domestic ferrosilicon prices are reportedly at $2,200-2,300/mt in-warehouse Pittsburgh. Compared to a month ago, prices have increased by $151-210/mt, although with the recent slip in Chinese export prices, the lower replacement costs expected into January are expected to also limit further upward momentum in the US domestic ferrosilicon market.