The 2201 ferrosilicon contract price on ZCE closed at 8630 yuan per ton on November 16.

The 2201 silicomanganese contract price on ZCE closed at 8120 yuan per ton on November 16.

Demand also remains strong in Europe, with end user first-quarter tenders for over 3,000t and suppliers struggling to respond.

US hot-rolled coil (HRC) prices dropped this week on lower sales and offers, amid continued limited spot market activity.

And it’s expected for the market to continue to be under pressure in the short term.

The 2201 silicomanganese contract price on ZCE closed at 8652 yuan per ton on November 12.

The 2201 ferrosilicon contract price on ZCE closed at 9052 yuan per ton on November 12.

China's largest steelmakers scaled back production in late October to the lowest since March 2018, after slightly increasing output from lows in late September.