In Mid-April, the social inventories of 5 varieties of steel products in 20 cities were 17.17 million tons, down by 860 thousand tons (4.8%) from last ten days, according the latest data of CISA.

Covid-19-related shutdowns of automotive plants across North America could cost US automakers at least 900,000 vehicle sales this year, reducing steel demand, according to industry estimates.

The 2009 ferrosilicon contract price on ZCE closed at 5690 yuan per ton on April 24.

The ferrosilicon market was temporarily stable this week.

The steel industry was affected by the virus in the first quarter of 2020.

The 2009 ferrosilicon contract price on ZCE closed at 5662 yuan per ton on April 23.

"More closures would be necessary, as demand shows little sign of recovery," said one US mining firm.

The 2009 ferrosilicon contract price on ZCE closed at 5708 yuan per ton on April 22.