The 2201 silicomanganese contract price on ZCE closed at 8652 yuan per ton on November 12.

The 2201 ferrosilicon contract price on ZCE closed at 9052 yuan per ton on November 12.

The 2201 silicomanganese contract price on ZCE closed at 8780 yuan per ton on November 11.

The 2201 ferrosilicon contract price on ZCE closed at 9450 yuan per ton on November 11.

The 2201 silicomanganese contract price on ZCE closed at 8588 yuan per ton on November 10.

The 2201 ferrosilicon contract price on ZCE closed at 9010 yuan per ton on November 10.

It added that it expected 2021 C1 iron ore extraction costs, which typically include only direct costs such as labor, to come to $19 per tonne.

“We expect iron ore prices to find a floor around current levels,” ANZ Research wrote in a note.