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The 2109 ferrosilicon contract price on ZCE closed at 10500 yuan per ton on August 31.

The 2201 silicomanganese contract price on ZCE closed at 8654 yuan per ton on August 31.

Revilla said the index gives a good sign since "money always flows in the right direction."

...coupled with the elevated Chinese price for magnesium, the key consumer of 75% of ferro-silicon, drove up the ferro-silicon price.