Steel production has declined. The import and export volume of steel products decreased generally.

On Thursday, the Futures rebounded, and the market sentiment eased to some extent, leading to a small upward in spot prices.

The spot price of 72# ferrosilicon did not change much, and the price of 75# ferrosilicon declined due to the weakening of the downstream magnesium metal market.

HRC lead times in the Midwest increased to 4 weeks from 3-4 weeks.

This week, the ferrosilicon market maintained stable. The Futures market fluctuated after last week's rise.

Earlier this year, the association had forecast steel demand to drop by 1.7% in 2022.

The problem is that there are more than 13m tons of HRC capacity coming online or planned to come online in the next three years.

Fastmarkets sources continued to insist that prices were in parity, as rare as the phenomenon is.