HBIS Group 75B tender price of July.

Chinese manufacturing activity strengthened in June but the leading indices provided further evidence that the country's steel market recovery will be largely domestically-driven.

China's steel scrap consumption soared by 15% to 2159.3 million tons in 2019, compared with 187.7 million tons in 2018, which shows that China is the largest scrap consumer in the world.

China's factory activity expanded at a faster pace in June, beating expectations, Reuters reported Tuesday.

The growth of China's CPI will pause downside trending in June, as the major inflation indicator saw its year-on-year increase slow for the fourth consecutive month at 5.2 percent in February, 4.3 percent in March.

The 2009 ferrosilicon contract price on ZCE closed at 5886 yuan per ton on July 7.

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