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

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.

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

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

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

The location of the second planned mill has not been announced.

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

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.