Yesterday, Ferrosilicon market continued its adjustment. The 1601 ferrosilicon was at Yuan 3922($603)/ton, which was 46 point or 1.19% more than last trading day. Analysts said that the present ferrosilicon was still weak, and the general trend for tender bid was still down. Ferrosilicon plants were shouldering heavy pressure, and production cut might continue.

　　The ferrosilicon index was 75A Yuan 4427/ton with 0.31% down till November 6. The price falled 23.29% year on year to 75B Yuan 4089/ton, and 0.41% week on week. The ferrosilicon producers were having their cost upside down. There were shortage of cash, and many furnance were shutting down. The pessimistic attitude was wide spreading.

　　Some steel mills had concluded their tender, and price was pushed down. For example, Hebei Steel Group 75B was at Yuan 4350/ton, down Yuan 450/ton; Nanjing Steel 75B was at Yuan 4380/ton, down Yuan 300/ton; Wuhan Steel 75B was at Yuan 4480/ton, down Yuan 220/ton; Baosteel 75B is at Yuan 4550/ton, down Yuan 150/ton.

　　"Tender bids are getting clear this week, ferrosilicon is down more than Yuan 200/ton in November, which marks the next wave of production cut," analyst said.

　　Some participants said that "the 72# ferrosilicon conclusion price is Yuan 5000/ton at most early this year, but now is at Yuan 4200/ton (accpted plus tax), the spot goods is already below Yuan 4000, down about Yuan 1000/ton."

　　The hesitation atmosphere was thick after the revelation of tender bids. Analysts attributed this to electricity bills and uncertainty of the market. The sign of tender price somehow suggested the competition on cost was near.

　　Analysts regard the production pause as a move to save the strength. Luojinxin industrial park at Zhongwei county, Ningxia had a massive shut down last week, total about 16 submerged arc furnances. Only 3 ferrosilicon plants were running as usual. The Qinghai area were not possitive, too. Though as the cost the lowest in Qinghai, Ledu and Haidong were shutting down the production, too, leaving only 1 to 2 submerging arc furnances running. "If the actual transaction cannot come back to cost level of Yuan 4500/ton, more producers might suffer."