In early May, the social inventory of 5 varieties of steel in 20 cities was 14.98 million tons, down 1270 thousand tons (7.8%) from last ten days, and up 8160 thousand tons (119.7%) vs. the begining of 2020.

The 2009 ferrosilicon contract price on ZCE closed at 5774 yuan per ton on May 14.

The producer price index (PPI), which measures costs for goods at the factory gate, fell 3.1 percent year-on-year in April, according to the National Bureau of Statistics.

The 2009 ferrosilicon contract price on ZCE closed at 5834 yuan per ton on May 13.

Japanese carmaker Toyota Motor has projected that its global car sales will fall by 22pc from a year earlier to 7mn units during the April 2020-March 2021 fiscal year on expectations that the global car market will bottom out during April-June.

The 2009 ferrosilicon contract price on ZCE closed at 5840 yuan per ton on May 12.

Ferrosilicon output in Ordos City in Jan-Mar.

The Indian Steel Association (ISA) has revised downward India’s steel demand growth forecast for 2020 from 5.1% as per growth predictions made in February this year.