"Improving product quality should be a major priority, to use high standards to push forward high quality development of the industry."

A source had already confirmed that a deal was in the works earlier on Monday, amid press reports that Jingye would pay 70 million.

Chinese ferro-silicon prices continued their steady performance amid firmer steel prices and export market stable in China.

CISA data showed their member companies have seen a 32 percent drop in profits.

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were unchanged over the past week.

Billet and bloom exports totaled 2.96 million tonnes over the six months, an 88% rise year-on-year.

China Sept nickel ore imports hit highest since at least 2016 as Indonesia ban looms

Shanxi has been very clear its goal to lower its annual production of coal to 1 billion tons by 2020.