Ferro-alloys Market Tracker - Metal Bulletin
THIS ISThist is AOnl he lat pril’siseyval subs st ana sue auab crib lys ndle a ers is, f doend hav ore s nup- e a cast ot cto- cces s or ontadat s to da ine in ou ta.for r mma osttionYOURFREESAMPLEFerro-alloys Market TrackerA unique source of market intelligence, analysis and forecastscovering the international ferro-alloys industryApril 2013z Bulk alloy prices steady, but vulnerablez Q2 charge chrome contract prices up 0.145/lbz Signs of recovery in ferro-molybdenum pricesEuropean and US bulk ferro-alloy prices are generally stable in April, holding on to first-quartergains early in the second quarter. Ferro-silicon prices continue to outperform manganese alloyprices, and we have witnessed some retreating in European manganese alloy prices in recentweeks. Declining manganese alloy prices are surprising given further rises in manganese oreprices this month. Bulk alloy markets in China continue to struggle as steelmakers reduce outputas they face excess steel supply and declining finished steel product prices. Steelmakers areslashing their ferro-alloy offers in response. With Chinese ferro-alloy supply poised to rise in thecoming weeks, we do not see any imminent reversal in Chinese ferro-alloy pricing trends.South African charge chrome producers have successfully negotiated an impressive 0.145/lbincrease in second-quarter contract prices with European stainless steel mills. Stainless millsagreed to the significant jump in contract prices given reduced South African chrome output andthe impending traditionally busier period for stainless mill business in the second quarter. Wesuspect, however, that this may be the last contract price increase this year, with contract pricesdeclining in the latter half of the year to move more in line with spot market prices.We believe ferro-alloy prices are more likely to fall than rise in the near term. Ferro-alloy output isrising, or is poised to rise, in a number of markets, and we do not see demand rising sufficiently toabsorb this increased output. Demand from steelmakers remains steady, but unimpressive, andwill be insufficient to spur a significant gain in ferro-alloy consumption and prices.European ferro-alloy price forecasts ( /tonne)Issue 248April 201317 April oy pricesFerro-siliconSilicon Economic indicatorsSteady, though unimpressive, demand from steelmakers is lending some stability to ferro-alloy pricesFeSi 75%SiMn 65-70%HC FeCr 60%2,5002,000246710121315161,5001,000Forecast prices500Apr11Aug11Source: Metal Bulletin ResearchDec11Apr12Aug12Dec12Apr13Aug13Dec13Apr14
“I regularly use MBR’s Ferro-alloys Market Tracker’s pricingdata and analysis as a reference in our price negotiationsand strategy – I highly recommend this report”Jose Roberto Ferreira da Silva, Corporate Purchasing, MAHLE Metal Leve S.AThis publication is a free sample issueSubscribe today!Subscribe today and:l Get the most recent issue ofFerro-alloys Market Trackerl Benefit from additional data,downloadable into Excell Have regular consultations with theeditor to discuss how their forecastsaffect your businessOrder online, call 44 (0) 20 7779 8000or email sbrough@metalbulletinresearch.com( 1,795 / 2,565 / 3,475)**prices exclude VATwww.metalbulletinstore.com/ferro-alloys
2 Ferro-alloys Market Tracker April 2013EUROPEAN FREE MARKET PRICES2012YearSepOctNov2012DecJanFebMar2013Apr /t /t /t /t /t /lb /lb /lb /lb /lb /kg /lb /kg /kg 0.996.4541.3830.08 /lb /t /t /t /lb /lb /lb /lb 12.2310.9815.04 /t /t /t /t 5051,5101,8650.86 /t /t /t /lb /lb 9651,5601.2910.7531.55 /mtu 35.391785.501805.691785.76178 / / / rro-silicon, 75% SiSilicon metalFerro-manganese, 78% MnSilico-manganese, 65-75% MnMedium-carbon ferro-manganese, 80% MnFerro-chrome, 6-8% C, 60-65% CrFerro-molybdenum, 65-70% MoMolybdic oxide, cannedFerro-vanadium, 70-80% VCHINESE EXPORT PRICES2011Year(1,3)Ferro-silicon, 75% SiFerro-manganese, 78% MnSilicon Metal, min. 98% Si, 10-20 tonne lotsSilico-manganese, 65-75% MnMedium-carbon ferro-manganese, 80% MnCharge chrome, 52% CrFerro-chrome, 6-8% C, 60% CrFerro-chrome, 0.1% C, 68-70% CrNickel, LME kel, platingFerro-molybdenum, 65-70% MoMolybdic oxide, drummed(4)Ferro-titanium, 70% TiFerro-tungsten, 75% W(4)Ferro-vanadium, 70-80% VUS FREE MARKET PRICES2010Year(6)Ferro-silicon min. 75%Ferro-manganese min. 75% Mn, 7.5% CSilico-manganese min. 65% Mn, max 17% SiSilicon metal min. 98.5% fob Chinese portsFerro-chrome 8% C, 60% CrJAPANESE IMPORT PRICES(7)Ferro-silicon, ChineseSilicon metal, spotSilico-manganese, ChineseCharge chrome, producerMolybdic oxideFerro-vanadiumBULK ORE PRICESManganese Ore 48-50%, max 0.1%P fob*(8)Chrome Ore South Africa lumpy 35-40%EXCHANGE RATESDollar/sterlingYen/dollarDollar/euroSource: Metal Bulletin ResearchNotes:Current month's averages are to the 12th(1) Tonnage prices are bulk basis; lb or kg prices are metal contained(3) Delivered basis, except (4) in warehouse (5) in warehouse, Pittsburgh (6) fob main Chinese ports(7) average of Tex report bimonthly quotes, (8) cif main Chinese ports* Values from June 2012 represent MB Manganese Ore Index 44% Mn, CIF Tianjin /dmtu of metal containedMetal Bulletin Research
Do you need to downloadthis data into Excel?Subscribe todayAs well as the monthly issue, you’ll also get all this data,downloadable into Excel:l Bulk and speciality ferro-alloys prices on a monthly basiswith five-year history and one-year forecastsl Archive back to 2008 of global ferro-silicon, ferromanganese, silico-manganese, ferro-chrome, molybdenumand nickel supply-demand with one-year forecastsl Current and historical monthly crude steel and stainless steelproduction data by countryOrder online, call 44 (0) 20 7779 8000or email sbrough@metalbulletinresearch.com
April 2013 Ferro-alloys Market Tracker 3Global Crude Steel Production(million tonnes)2009201020112012Q4 11Q1 12Q2 12Q3 12Q4 12Sep 12Oct 12Nov 12Dec 12Jan 13Feb .19United 00.820.820.830.88Other 24.344.104.033.893.893.56Total 39.4214.0314.1213.4111.8913.1113.07% Change 26.926.707.077.266.66Total N 4.138.118.047.828.278.467.74% Change 5%-3.6%-5.1%-2.1%-2.2%-7.5%Latin 775.095.905.465.425.294.93% Change 19.516.166.516.406.606.606.20South 5.315.735.395.484.811.781.491.551.771.771.60Other Asia (excl. 7.6659.3461.83Total 1.25252.9884.9883.9084.1984.8986.7687.40% Change 752.48Other 0.6%3.3%8.8%0.1%-0.1%5.3%3.6%5.6%2.1%World Total1,174.39% Change Y-o-Y-9.7%1,395.04 1,479.6218.8%6.1%Source: World Steel Association, Metal Bulletin ResearchQuarterly crude steel production emerging markets (% change y-o-y)50%40%30%20%10%0%-10%-20%-30%-40%-50%Latin AmericaChinaCISTotal WorldQ4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q409 10 10 10 10 11 11 11 11 12 12 12 12Source: Metal Bulletin ResearchQuarterly crude steel production - maturemarkets (% change SAEuropeJapanTotal WorldQ4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q409 10 10 10 10 11 11 11 11 12 12 12 12Source: Metal Bulletin ResearchMetal Bulletin Research
4 Ferro-alloys Market Tracker April 2013Ferro-silicon highlightsl European ferro-silicon prices exhibit additional rises.l .while US prices stabilisel Chinese prices continue to decline on weak demand from steelmakersMarket OutlookEuropean FeSi price1,8001,600 /tonne1,4001,2001,000Q112Q2 Q3 Q4 Q112 12 12 13Q2 Q3 Q4 Q113 13 13 14The European ferro-silicon spot market hasedged up. European prices have improveddespite a reported increase in importsfrom South America as availability lookstight overall through the current quarter.There is a tentative balance between tightdomestic supplies and weaker underlyingconsumption in Europe. Though demandis down from what would be consideredfairly decent levels, alloy inventories arealso low. Some European ferro-siliconproducers are said to be holding backmaterial in the expectation of additionalpricing increases, with expectations thatthe market may reach 1,200/tonne in thenear term. US ferro-silicon prices may holdaround current levels in the near term,gaining support from a lack of availablemetal in the spot market. Further supporthas come from the burgeoning auto sector,which is heading into a traditionally busiertime of year at the end of this quarter andthrough the third quarter. There will haveto be a renewed and sustained demand inthe ferro-silicon spot market, however, topush US prices up to 1.00/lb. The Chineseferro-silicon market has been dull in Aprilso far, while most monthly tender prices forferro-silicon from steel mills have droppedRMB100-150/tonne from March.Europe edges up, supply supportsFerro-silicon spot market prices are at 1,150-1,180/tonne ( 1,505-1,545/tonne) delivered, up from 1,120-1,175/tonne last month. Ferro-silicon production cuts in the latter half of last year and inthe early months of this year have caused a supply squeeze in Europe.European prices rising ontight supply, but prices arevulnerable to impendingsupply risesThere have been reports of a jump in ferro-silicon imports from Venezuela, however, whereFerroatlantica (FerroVen) has a plant. The country voted in a new leader on April 14 after the deathof Hugo Chavez and there have been market worries that his chosen successor, Nicolas Maduro,might nationalise the plant. The factory’s annual production capacity is 96,000 tonnes of ferrosilicon, 22,000 tonnes of silico-manganese and 38,000 tonnes of ferro-manganese.Second-quarter contracts have been settled at around 1,160-1,180/tonne, up from first-quartercontract prices of 1,080-1,090/tonne. Almost all contracts, however, are for April/May delivery.The recent ruling at the European Commission on anti-dumping duties against imports fromRussia, China, Egypt and Kazakhstan has also supported the market, with duties extended onChinese and Russia until March 2014.Chinese HR steel prices vs. FeSi and SiMnMacedonian ferro-alloys plant Jugohromexport pricesFerroalloys, formerly Metal Invest EFT, hasSteel prices have come off their early-year peaks, andramped up ferro-silicon production at its plantalloy prices are declining in responseto maximum capacity, with all eight furnacesin operation. The company, of which 90% wasHR Coil (LHS)sold to Hong Kong-based metals firm CamelotFeSi (RHS)9002,400Group and restarted in 2010, has a total alloySiMn (RHS)800production capacity of around 6,000-7,000 tpm.Metal Bulletin Research ce: Metal Bulletin ResearchOct11Apr12Oct12Apr13 /tonneUS trading slow, supportedThe US spot ferro-silicon market price rangehas been steady, extending a period of stabilityfrom early March as increased production costshave been supportive. Business activity in theUS spot market has been slow as most deliverycontracts are tied up on a formula basis. Alloyavailability has been relatively tight, whichis supporting spot prices and suppliers are2,000700
April 2013 Ferro-alloys Market Tracker 5uninterested in cutting offer prices to get new business. US spot ferro-silicon prices are holding ataround 0.93-0.96/lb.Chinese prices remainsubdued as demand fromsteelmakers disappointsagainst sufficient supplyChina drifts on quiet businessAlloy producers in Qinghai province said ferro-silicon tender prices have declined due to weak demandfrom steel mills. Market sentiment is cautious about the short-term outlook. Producers in Ningxiaprovince have been busy with their long-term contracts, leaving the spot market quiet and vulnerableto cheaper offers. Spot price offers for ferro-silicon 75% grade are in the range of RMB6,250-6,350/tonne ( 1,000-1,018/tonne) ex-works, although deals have been completed at around RMB6,2006,300/tonne. Spot price offers for ferro-silicon 72% grade are in the range of RMB6,050-6,150/tonneex-works, although the bulk of business is only about RMB5,950-6,050/tonne.The Chinese ferro-silicon export market has also been dull in line with slow demand. Exporterssaid business to Japan and South Korea has been hit due to black market trade, which is 100/tonne cheaper. Legitimate export deals are difficult and exporters say current price levels arejust about the cheapest they can afford. Export price offers for ferro-silicon 75% grade are in therange of 1,420-1,440/tonne FOB China via legal trade routes, and about 1,400-1,420/tonne FOBChina via legal trade routes for ferro-silicon 72% grade.In industry news, the Ministry of Industry and Information Technology of the People’s Republic ofChina (MIIT) has published its new target for elimination of outdated production capacity this year.China will shut 1.725m tonnes a year of ferro-alloys production capacity in 2013, compared with 1.372m tonnes in 2012. China has been shutting outdated production capacity in recent years as a resultof environmental and oversupply worries, and the process is set to persist for the next few years.Indian prices areimproving amid powerrelated production cutsIndian market improvingIn India, 70-75% ferro-silicon market prices have moved up to Rs68,000/tonne ( 1,255/tonne)ex-Bhutan and Rs70,000/tonne ( 1,293/tonne) ex-Meghalaya. Ferro-silicon producers inBhutan are building stocks to have enough material for prompt delivery of contracts as pricesare expected to increase through the current quarter. Despite the new contract prices, end-userdemand has yet to improve. Indian producers are not worried about soft demand, however,as they are busy ensuring that their output is timed to deliver alloy to major Indian end users.Moreover, alloy producers want to build up their stocks ahead of expected increased demandlater this quarter and so ensure they have enough supplies to meet any prompt demand.Separately, Andhra Pradesh ferro-alloy producers may implement further production cuts inthe near term due to the impact of a recent jump in power prices from the start of April. Whileproduction cuts seem to be the only option left for most of the units, small units may have to shutproduction as operations become unviable at current power tariffs.So far a few units have shut production, with another ten set for similar moves in the comingmonths, according to the Indian ferro-alloys producers association. There are around 30 ferroalloy producers in the State of Andhra Pradesh, accounting for about one-third of annual Indianoutput. We understand most plants in the state, however, are running at only half of theirannual rated production capacity.Global Ferro-silicon Supply-Demand Balance ('000 tonnes Si content)Q1 11Q2 11 Q3 11 Q4 11 2011Q1 12 Q2 12 Q3 12 Q4 12f 2012Q1 13f Q2 13f Q3 13f Q4 13f 2013fGlobal Consumption1,375 1,450 1,225 1,250 5,300 1,265 1,490 1,275 1,350 5,380 1,297 1,548 1,326 1,379 5,550Global Production1,325 1,475 1,300 1,250 5,350 1,290 1,470 1,300 1,340 5,400 1,325 1,525 1,350 1,360 5,560Market Balance-50Price Forecast - European Market ( /t)Price Forecast - US Market ( /lb)2,036 2,008 1,786 1,600 1,858 1,517 1,532 1,352 1,415 1,454 1,475 1,575 1,525 1,600 1,5441.07 1.04 1.01 1.00 1.03 0.94 0.93 0.89 0.90 0.91 0.93 0.95 0.92 0.92 0.93257505025-2025-102028-2324-1910Source: Metal Bulletin ResearchMetal Bulletin Research
6 Ferro-alloys Market Tracker April 2013Silicon metal highlightsl US prices firming on steady demandl European prices easing as demand disappoints, but inventories are lowl Chinese prices show further declines on weak demand and rising supplyMarket Outlook3,000European Si Metal price /tonne2,7502,5002,250Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q112 12 12 12 13 13 13 13 14Source: Metal Bulletin ResearchUS spot silicon metal prices have beentrading sideways against steady demandin recent weeks and consumers have beenworking off contract deliveries. Tradingmay get a boost this quarter when volumes traditionally increase, although thereare as yet no signs of an upturn in businessactivity. Still, support has been comingfrom demand in the aluminium-silicon alloys industry, which has been feeding thestrengthening auto sector, as well as froma firmer chemicals sector. The Chinese silicon metal market has been quiet againstslow aluminium demand and prices appear vulnerable to the dow
Ferro-alloys Market Tracker A unique source of market intelligence, analysis and forecasts covering the international ferro-alloys industry Issue 248 April 2013 17 April 2013 www.metalbulletinresearch.com Contents Ferro-alloy prices 2 Ferro-silicon 4 Silicon Metal 6 Manganese 7 Ferro-chrome 10 Nickel 12 Molybdenum 13 Vanadium 15
Heat-Resistant Alloy Castings 8, 9 Aluminum Alloys 9, 10 Aluminum Casting Alloys 10, 11 Copper Alloys 12, 13 Copper Casting Alloys 13, 14 Magnesium Alloys/ Casting Alloys 14 Magnesium Alloys/Wrought Alloys 15 Nickel Alloys 15 Super Alloys 16-18 Tin Alloys 18 Zinc Alloys 19 Precious Metal Alloys 19 Ni-Cr-Mo alloys 19
(a) Industry’s profile and expansion of the bulk Ferro Alloys industry in a phased manner. (b) Current status of the industry with production level and extent of imports and exports of different Ferro Alloys, (c) Availability of quality inputs (d) Review of the technology adopted and (e) Challenges and opportunities in the Ferro Alloy sector.
Ferro Alloy production. Power is a key cost component in Ferro Alloy business, and low cost & uninterrupted availability of Captive Power for Ferro Alloys production is critical to the cost competitiveness and facilitating stable operations. VISA Steel is a leading player in the Ferro Alloys industry in India and globally and
the ferro alloy produced. Since ferro alloys are used at the finishing stages of various alloy and stainless steel production, phos cannot be dec-reased once it is introduced through ferro alloy. Therefore 'P' content in reductants should be 0.02% maximum. Problems of phos in high carbon ferro manganese Et silico manganese.
relates to only ferro alloy production. This plant shall be designed for production of Ferro Silicon (Fe-Si). However, provisions shall be kept for production of other ferro alloys (like Si-Mn, Fe-Mn etc) after carrying out some minor modifications. The standard grade Ferro Silicon has Si content of about 70%.
CHAPTER strong 11: /strong METAL ALLOYS APPLICATIONS AND PROCESSING . Classifications of Metal Alloys Fe3 C cementite800 deformation are termed Metal Alloys Steels Ferrous Nonferrous Cast Irons Cu Al Mg Ti . The Noble Metal Alloys: Ru(44), Rh (45), Pd (46), Ag (47), Os (75), Ir (77), Pt (78), Au (79)
Ferro Vanadium is a universal hardener, strengthener and anti-corrosive additive for steels like high-strength low-alloy (HSLA) steel, tool steels, as well as other ferrous-based products. Ferro vanadium belongs to the category of ferroalloy. Ferro vanadium is an alloy which is formed by combining iron and vanadium.
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