This week, the ferrosilicon Futures fluctuated downward, and the spot price rose by a small margin of around 100 yuan per ton.

The 2210 ferrosilicon contract price on ZCE closed at 7916 yuan per ton on September 16.

The Chinese market for stainless steel shows resilience and is brimming with opportunities, despite the disruption that COVID-19 has brought to the global stainless steel industry, according to industry insiders.

"The importance of coal-generated electricity for Germany's energy supply has continued to grow," Destatis said.

Meanwhile, 63.41 million tonnes of thermal coal were stored in 363 power supply plants as of Aug. 31, which could ensure power generation for 25 days.

"Australia will continue to be a trusted and stable supplier of energy and resources to our key trading partners," he said.

The three projects being constructed are with a combined production capacity of 6.2 million tons worth around 35 billion riyals, he added.

Driven by innovation, the stainless steel industry in Ningde, southeast China's Fujian Province, has grown significantly in recent years.