To be sure, stripping the industry of its overcapacity will help it to reshape itself, so as to align with the country's pursuit of high-quality development.

China's foreign trade expanded 28.5 percent year-on-year to 11.62 trillion yuan ($1.8 trillion) in the January-April period.

The 2109 ferrosilicon contract price on ZCE closed at 7952 yuan per ton on May 13.

China's foreign trade has extended its growth momentum during the first four months.

The company's order intake increased by 14 percent year-on-year and reached 8.6 billion euros.

The 2109 ferrosilicon contract price on ZCE closed at 8062 yuan per ton on May 14.

"There is no shortage of supplies. The price surge is not an exact reflection of the current supply and demand situation," said an analyst.

Positive factors have driven the market sentiment of ferrosilicon to be good