This trend is expected to persist in the medium term, whereby domestic steel mills will directly benefit, VDSC said.

Data of the first week of November showed that the operating rate and output of ferrosilicon plants had a slight upward trend.

The 2101 ferrosilicon contract price on ZCE closed at 6002 yuan per ton on November 6.

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

The 2101 ferrosilicon contract price on ZCE closed at 5912 yuan per ton on November 5.

China's steel sector registered output expansion in September as the country's economic recovery maintains momentum, industrial data showed.

Italian power consumption has recovered slightly better than expected in the second half of this year, but the recent rise in Covid-19 cases could put an end to this trend.

The 2101 ferrosilicon contract price on ZCE closed at 5958 yuan per ton on November 4.