"[Rail operator] Transnet Freight Rail (TFR) is cancelling many trains," said one supplier.

The company plans to produce up to 160000 tons of new products from the second half of 2022.

The tungsten market runs smoothly;

The molybdenum market rise slightly;

The vanadium market appears cold slightly;

As for the trend after the festival, many of the industry participants is optimistic, waiting for the market to further clarify.

China imported 3.57mn t of coking coal last month, down by 4pc from 3.72mn t in November but up by 110pc from December 2019.

Japanese steel mill Nippon Steel expects its crude steel output in this year's January-March quarter to recover above 10mn t for the first time since January-March 2020.