In the short term, the policy of energy consumption restrictions and electricity price adjustment in the main production areas will continue to support the strong operation of ferrosilicon spot market.

Japan ferrosilicon (>55%) imports up 27.39% YoY.

Japan ferrosilicon (≤55%) imports down 46.43% YoY in 2020.

China's benchmark power coal price dropped slightly during the past week.

Japan ferrosilicon (>55%) imports down 22.40% YoY in 2020.

The 2105 ferrosilicon contract price on ZCE closed at 7,684 yuan per ton on February 25.

"China has been the largest market for Vale since 2006 and has become more and more important to Vale in recent years," Xie said.

The 2105 ferrosilicon contract price on ZCE closed at 7746 yuan per ton on February 24.