Ferrosilicon is cautious and wait-and-see, and operations are mainly based on transactions

Futures: The main ferrosilicon 06 contract closed at 5608, a range of -0.28%, down 16, and a single-day reduction of 15383 (yuan/ton). Spot: The ferrosilicon market is weak, so be cautious. The 72 ferrosilicon natural block in the main ferrosilicon production area is 5500-5600 yuan/ton, including tax, and the 75 ferrosilicon price is 6050-6100 yuan/ton.
Downstream: Although the overall inventory of steel mills continues to be reduced, demand is difficult to increase, and inventory reduction may face pressure. Supply increases and demand decreases. The May Day holiday is approaching, and there may be insufficient demand for replenishment before the holiday.
In general, the demand for ferrosilicon market is still recovering further, and there is an expectation of a small increase in stocking demand before the May Day holiday. In terms of mentality, traders are cautious about the market outlook, and operations are mainly based on transaction reduction.

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