The figures, released every 10 days, are based on the survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions across the country.

But demand for long steel products is set to remain subdued, given the poor demand outlook from the construction sector, Zuo added.

China produced 34.65 million tonnes of ferro-alloys in 2023, up by 1.4% from 34.17 tonnes in 2022, according to data from the country’s National Bureau of Statistics.

The CBAM puts a price on the carbon emitted during the production of carbon intensive goods entering the EU. It started trial operation in October last year, and will be implemented from 2026 onward.

Established with a donation of $5.81 million from Vale, the joint laboratory will be open to all the researchers from the mining and steel industry from today, it said.

Many companies in what are considered to be sunset industries have actually regained their vitality through innovation and transformation.

VANADIUM RESOURCES OFF-TAKE MOU WITH LARGE VANADIUM NITRIDE PRODUCER

Macquarie said that the cost of producing low-grade nickel pig iron (NPI) in China will be the key to determining nickel prices. Nickel prices on the London Metal Exchange (LME) are down 45% in 2023 and are under further pressure.