With robust signs from the realty and construction sectors, the steel market will recover soon, he added.

Downstream support was insufficient, and the speed of ferrosilicon shipment has slowed down, leading to a growing cautious wait-and-see sentiment.

Global nickel production will outpace demand to the tune of 239,000 metric tons next year, according to the International Nickel Study Group (INSG).

The spot price of ferrosilicon was supported by the rising cost of raw materials, and the tender price was higher than market expectations, further driving up positive sentiment.

Supported by multiple positive factors, the domestic ferrosilicon market has shown good confidence this week.

It’s still necessary to closely monitor changes in the supply and demand relationship.

The semi coke market continued to strengthen, and the quotation for small-sized has been increased to 1180 CNY/T.

The basic contradiction between supply and demand still existed.