Important advances in the prices of ferros and minerals

We continue to see the same trend in the market as in previous weeks. Important advances in the prices of ferro and minerals, in most markets, setting new price levels. The evolution of the steel sector worldwide favors these increases that are finding support due to the tight inventories and the demand that is becoming more and more plausible. The upward trend in prices will prevail during Q2 and for Q3 it would not be surprising that in general the steel mill reduced summer shutdowns to meet demand, which would see a sustainable and continuous upward trend to general level. If the vaccination policy prospers adequately in the US, we should see a very positive year 2021 leading to even 2022 “post covid”, with consumption and production levels similar to 2006-2007. FeSi producers in the US are already offering standard material at 1600 eur. Few imports are seen from Brazil and other third countries as most are targeting the North American and Asian markets We continue to see problems with containers and after the “Suez crisis” the flood of containers that come in is expected to block ports . It is estimated that some 25,000 containers held for the six days of the blockade will arrive at the port of Valencia https://mundo.sputniknews.com/20210330/espana-espera-aluvion-de-contenedores-tras-la-reapertura-de-suez- 1110618731.html Ukraine once again has problems with Russia, so few or no imports from this country should be expected https://www.elindependiente.com/internacional/2021/04/11/el-oso-ruso-ensena-las -claws-to-ukraine / SAKURA’s force majeure status in Malaysia is confirmed, limiting the tonnages of FeMn / SiMn in the market. The duration and importance of the problem has not yet been confirmed (NOMINAL CAPACITY OF 250,000 TNS OF Mn ALLOYS) To take into account the evolution in the AD of CaSi vs China. Strong opposition from EUROFER. The main argument against the imposition is the fragile situation of Ferroglobe due to mismanagement (and therefore “self-harm”). It does not seem that this case will prosper, which may harm the opening of the review of the AD of Si vs Chinan (the longest case of trade defense in the EU) Regarding prices + FeSi 1600 eur for standard material delivered to the user final + Simn 1200 eur idem + FeMn 1150-1175 eur idem + Silicon 2400 eur for 553 delivered to end user