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It added that it expected 2021 C1 iron ore extraction costs, which typically include only direct costs such as labor, to come to $19 per tonne.

“We expect iron ore prices to find a floor around current levels,” ANZ Research wrote in a note.

A recent report states that the metals sector is set to continue its rebound from the effects of the covid-19 pandemic through 2022.

The 2201 silicomanganese contract price on ZCE closed at 8740 yuan per ton on November 9.

The 2201 ferrosilicon contract price on ZCE closed at 9478 yuan per ton on November 9.

The 2201 ferrosilicon contract price on ZCE closed at 9504 yuan per ton on November 8.

The 2201 silicomanganese contract price on ZCE closed at 8630 yuan per ton on November 8.

The domestic ferrosilicon market continued to operate weakly this week.