During the traditional off-season, the demand has further weakened.

Research firm BMI has revised downward its nickel price forecast for this year to $20 000/t from $20 600/t as the market remains in a supply glut.

Under the influence of bearish factors, the sentiment of the ferrosilicon spot market was relatively cautious.

The overall production was stable, and the impact of relevant policies in Qinghai, Ningxia, and Inner Mongolia regions was not yet significant.

Downstream demand has entered a seasonal weakening phase, with insufficient demand for steel, stable and slightly lower prices for magnesium metal.

This landmark collaboration signifies a convergence of industry expertise, with both entities set to harness their strengths for mutual advancement.

The cost side remained stable, and according to calculations, some companies in certain regions had already incurred losses.

Vale S. A provided production guidance for the year 2023, 2024, 2026 and 2030+.