Steel producer Hoa Phat Group has signed a contract to export 8,000 tonnes of rebar to Mexico, its first order from the North American country.

The 2209 ferrosilicon contract price on ZCE closed at 7498 yuan per ton on August 18.

Many steel enterprises saw profits drop by up to 90% in Q2 of this year, amid plunging steel prices.

Rival miners have cautioned over a weaker outlook and Rio Tinto Group last month reported a decline in first-half profits and halved its dividend.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $110 a tonne Monday morning, up 2.7%

The bill includes incentives for companies that include union workers, but the overwhelming focus is on boosting US production and employment, he said.

Output of raw iron ore in China in July 2022 down 3.5% YoY.

Output of ferroalloys in China in July 2022 down 6.9% YoY.