Experts are optimistic that despite the negative trend in the steel sector, the sector will recover in 2024 due to the government's actions in the property market and construction sector.

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Inner Mongolia Ulanqab Leading China Ferroalloys Industry Development Ferro-Alloys.com visiting

Coal is a main export commodity of Mongolia, which is rich in natural resources.

With robust signs from the realty and construction sectors, the steel market will recover soon, he added.

It found that mild weather over Australia's winter led to lower demand for electricity over the period.

Prices remain down by 33pc from their April peak of $1,200/st.