The 2210 ferrosilicon contract price on ZCE closed at 7764 yuan per ton on September 2.

The traditional peak season in September has arrived, and many people in the industry were optimistic about it.

Magnesium production capacity outside China is forecast to expand to 24pc of global supply by 2032.

Several presenters pointed to new markets opening up for magnesium metal usage in lightweight die casting for EVs, battery housing and, further down the line, in the batteries themselves.

South Korean ferrous scrap imports fell by 24pc from a year earlier in July because of cheaper domestic scrap and high inventory levels.

Swedish start-up H2 Green Steel has raised €190mn ($189mn) in a financing round, for its initiative to decarbonise steel production by around 95pc using renewable hydrogen.

Brazil's power market will not need to choose between sustainability or generation capacity if both are priced efficiently.

Integrated steelmaker US Steel and its union membership appear to be at an impasse over contract negotiations.