In late August, many steel mills were to launch bidding for September ferrosilicon. FeSi price went up in early August, and ferrosilicon producers raised quotation by RMB100/mt or so. Affected by high unit price of electricity and small scale, ferrosilicon producers faced terrible condition, with an operating rate of less than 50% .In early August, Ningxia Sun Magnesium started its ferrosilicon project, which had a capacity of 50,000 mt of ferrosilicon per year. The project could be called over medium-sized ferrosilicon enterprise.
At present, mainstream FeSi75# was RMB5,950-6,050/mt(USD972-988/mt, export duty not included) and FeSi72# was RMB5,750-5,850/mt(USD939-955/mt, export duty not included), ex-work tax-inclusive price by acceptance. Purchase price of ferrosilicon for September deliveries was expected to remain fat or a little higher.