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.

The three-phase project will use natural gas as a reducing agent instead of coke and coal, Fastmarkets heard.

Shares of Glencore-backed Horizonte Minerals (AIM, TSX: HZM) plunged on Monday after the company announced it has failed to secure additional financing needed to complete the construction of its Araguaia nickel project in Brazil.

Washington and London on Friday prohibited metal-trading exchanges from accepting new aluminum, copper and nickel produced by Russia and barred the import of the metals into the US and Britain.

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.

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

Canada Nickel (TSX-V: CNC) has kicked off front end engineering design (FEED) at its flagship Crawford nickel project in northern Ontario, which it expects to bring into production in 2027.

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