Ferrosilicon Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Ferrosilicon in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Ferrosilicon Price Trend for the Second Half of 2023

Ferrosilicon prices were observed to be following its tepid demand trajectory from the downstream sectors and industries during the final two quarters of the year 2023. Since ferrosilicon are alloys of iron and silicon and are mainly used in the metallurgical and manufacturing industries, their market behavior also influences the ferrosilicon price trend.

Ferrosilicon Price Chart

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Q3 continued the sluggishness of the previous quarter as the market demands still remained low, with inventories running high. A slight increase in the energy prices did provide some upstream support, however the inventories were so glutted that it was ineffective. As Q4 approached, the situation became even more dire as the oil prices plummeted, and the shipping hindrances caused the already feeble international demands to tumble further down. Overall, dull market trends were witnessed.

Analyst insight

According to Procurement Resource, not much improvement is anticipated in the Ferrosilicon price trend going forward since the supply outweighs demand by large numbers.

Ferrosilicon Price Trend for the First Half of 2023

In the Asian markets, the prices of ferrosilicon followed a fluctuating trend due to limited rates of production, as many of the manufacturing units went under maintenance. The release of shipments from the Asian ports also faced an unexpected delay that negatively affected the supply chain functioning and, in turn, the availability of ferrosilicon in the domestic and international markets.

The market activities were, however, supported by a positive outlook of the supply-demand scenario. The growth of the ferrosilicon trend was backed by high usage and, in turn, demand for ferrosilicon from the low-cost, eco-friendly hydropower industries and related sectors.

The demand for ferrosilicon also accelerated with the rise in consumption and interest of consumers in the renewable sectors, where ferrosilicon acts as a cheap and strong alternative as compared to conventional metals. Further, the low production costs and lower input rates favored the rise in prices of ferrosilicon in the first two quarters of 2023.

Analyst Insight

According to Procurement Resource, the price of Ferrosilicon is expected to oscillate amid the poor market sentiments and increasing interest of users in environmentally friendly substitutes.

Procurement Resource provides latest prices of Ferrosilicon. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.