Downstream demand and transactions were poor, and the ferrosilicon market operated under pressure.

Nickel prices are proving a headache for miners across the world: oversupply of the metal plus low electric vehicle (EV) demand has created a profit-stealing two-year price slide.

Manganese Marekt Snapshot on February 28

Manganese Marekt Snapshot on February 28

Weekly Italian rebar and drawing-quality wire rod assessments softened by €5/t to €600/t ex-works and €660/t delivered.

Structural changes in the hot-rolled coil (HRC) market could see the historical premium for north European material narrow, if not evaporate, compared with Italian in the coming years.

In the traditional off-season, the demand side further weakened. Under the influence of bearish factors, the ferrosilicon futures market was fluctuating downward, and the spot market was operating under pressure.

This week, the ferrosilicon futures market continued to fluctuate at a low level, leading to a lack of confidence in the spot market.