"Iron ore prices could be pressured this year on lower output of China's crude steel and rising supply of overseas mines," said Zhu.

Mining industry progressing with energy transition to zero-emissions mines

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 155.0 million tonnes (Mt) in January 2022, a 6.1% decrease compared to January 2021.

Benchmark nickel on the London Metal Exchange (LME) surged to its highest value in more than a decade on 22 February.

The 2205 ferrosilicon contract price on ZCE closed at 9372 yuan per ton on February 23.

Black Iron monitoring Russia’s incursion into eastern Ukraine

Zimbabwe’s State-owned miner selected to revive steel firm

SASAC said that in January, the output of raw coal, sales of refined oil products and the production and sales of steel products of central enterprises have all maintained steady growth. Trade volume has also delivered rapid growth.