Chinese ferrosilicon market report May 2011

Ferrosilicon market is a little chaotic in May.Asian Metal Copyright On May 31th, the National Development and Reform Commission declared to increase power price in Qinghai and Gansu, which will cause an increase of ferrosilicon price.Asian Metal Copyright At the beginning of May, as ferrosilicon producers consider power price to go up, they increase their quotations and reported an active market and few inventories, however, the concluded price keeps stable.Asian Metal Copyright Some ferrosilicon producers begin to reduce their production and quote lower price since late May, and ferrosilicon market shows a downward trend.Asian Metal Copyright On May 18th, the National Development and Reform Commission declared to increase power price in Zhejiang, Hunan and Guizhou, producers think it is inevitable for the price to go up and they increase their quotations once again.Asian Metal Copyright At the beginning of May, as ferrosilicon producers consider power price to go up, they increase their quotations and reported an active market and few inventories, however, the concluded price keeps stable.Asian Metal Copyright Some ferrosilicon producers begin to reduce their production and quote lower price since late May, and ferrosilicon market shows a downward trend.Asian Metal Copyright On May 18th, the National Development and Reform Commission declared to increase power price in Zhejiang, Hunan and Guizhou, producers think it is inevitable for the price to go up and they increase their quotations once again.Asian Metal Copyright On May 31th, the National Development and Reform Commission declared to increase power price in Qinghai and Gansu, which will cause an increase of ferrosilicon price. The concluded price is stabilized at RMB6,900-7,000/t ex works for ferrosilicon 75% and RMB6,700-6,800/t ex works for ferrosilicon 72% presently.Asian Metal Copyright At the beginning of May, as ferrosilicon producers consider power price to go up, they increase their quotations and reported an active market and few inventories, however, the concluded price keeps stable.Asian Metal Copyright