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.

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

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

The sentiment for finished steel prices continued to slide as the November scrap buy week was underway, according to the most recent S&P Global Commodity Insights US steel market participant survey.

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.

At present, of the 17,244 tonnes of on-warrant nickel in LME warehouses in Rotterdam, briquette accounts for more than 92%.