Demand usually picks up during the Indian festivals of Dussehra and Diwali, which is celebrated in October and November, respectively.

The tone of steel bidding in September was established last Friday with the bidding price of HBIS Group at 10700 yuan per ton.

The 2201 ferrosilicon contract price on ZCE closed at 12004 yuan per ton on September 16.

The 2201 silicomanganese contract price on ZCE closed at 9980 yuan per ton on September 16.

The 2201 ferrosilicon contract price on ZCE closed at 12054 yuan per ton on September 15.

The 2201 silicomanganese contract price on ZCE closed at 9892 yuan per ton on September 15.

More buying interest from steelmakers is expected in the next few weeks and there should be an increase in inter-merchant trading in that time.

No firm date was given for the introduction of the planned changes.