The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

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

Fastmarkets sources continued to insist that prices were in parity, as rare as the phenomenon is.

Vietnam spent nearly 10.3 billion U.S. dollars importing roughly 9.8 million tons of steel and iron in the first 10 months of this year.

The 2211 ferrosilicon contract price on ZCE closed at 8370 yuan per ton on November 8.

The 2211 ferrosilicon contract price on ZCE closed at 8378 yuan per ton on November 7.

The Ferrosilicon Futures rose straightly this week.