Demand from steelmakers unlikely to weaken

摘要

Imported FeSi (75 Si) prices in Turkey lost around $25/t to $1,450-1,500/t CIF month-on-month. Ukrainian SiMn (70 Mn, 17 Si) is available at $1,2000/t CIF, up $10/t. - Although Turkey's daily average crude steel output lost 3.6 quarter-onquarter in Q2, it stays above 100,000 t, a level seen since 2017 amid over 90 capacity utilization expectedly maintained by local steel producers whose margins are higher when producing longs from own EAF-steel compared to buying and re-rolling imported square billets. By Metal Expert's forecast, Turkey's EAF capacity utilization will remain above 100,000 tpd in Q3, provided that longs demand recovers domestically and in export markets. Ferroalloy consumption will be around 22,000 tpm of SiMn and 9,500 tpm of FeSi.