The steel subsidiary should combine its own reform and development with the integrated development of the Yangtze River Delta and strive to develop itself amid the process.

Mechel PAO's Chief Executive Officer Oleg Korzhov commented on 1H2020 operational results.

The 2010 ferrosilicon contract price on ZCE closed at 5688 yuan per ton on August 25.

The seaborne iron ore price hit more than six-year high Aug. 18, due to supply shortness of medium grade fines and a strong demand recovery in China post-pandemic.

A near-50pc surge in iron ore prices over the past three months has lifted the product's share of Chinese steel costs to an all-time high.

The 2010 ferrosilicon contract price on ZCE closed at 5772 yuan per ton on August 24.

Shanxi-based TISCO, which has an annual capacity of 12.94 million tons, is a global leader in stainless steel.

In the week ending on August 15, 2020, domestic raw steel production was 1,377,000 net tons while the capability utilization rate was 61.5 percent.