LME nickel price trend on August 24th

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

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 152.7 million tonnes (Mt) in July 2020.

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.

"As Bratsk Ferroalloy Plant launched its upgraded ore thermal furnace #3, the plant increased output and sales of ferrosilicon (+46% quarter-on-quarter)."

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.

World crude steel production for the 64 countries was 152.7 million tonnes (Mt) in July 2020.

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