Earlier this year, the association had forecast steel demand to drop by 1.7% in 2022.

The Ferrosilicon Futures rose straightly this week.

It was expected that the operation would continue to be weak in the short term.

The traditional peak season of "September-October" is nearing the end, 75 # ferrosilicon was relatively strong under the support of magnesium metal market.

However, the tender price was lower in the later stage, and the volume was reduced.

Increased light vehicle production through the second half of 2022 over the first half of the year will increase availability for prime steel scrap.

Multiple producers have faced that tough choice in recent months.

In October, the tender price of ferrosilicon of HBIS Group rose 650 CNY/T month on month to 8850 CNY/T, which greatly improved the market confidence.