However, the net debt to equity ratio of steel companies is still significantly better than in the 2010-2019 period.

"Pretty much everyone accepts the current level [of premiums] is the new reality", a trader said.

This has been a year of crisis for the nickel market.

The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

After the reorganization, Sinosteel will no longer be under the direct regulation of the SASAC.

The channel is also a major route for China's west-to-east coal transportation, ensuring the country's energy consumption demand is met.

By September this year, the number of iron and steel enterprises in the northern Chinese province had been slashed to 39 from 123 about 10 years ago.

Fluorspar is the commercial name for the naturally occurring mineral fluorite, composed of calcium and fluorine (CaF2).