The output of ferrochrome and stainless steel dropped in 2020.

Under the action of many factors, the short-term rebar price is easy to fall but difficult to rise.

Baowu produced 96mn t of steel in 2019 to overtake Luxembourg-based ArcelorMittal, which produced 89.8mn t, as the world's largest steelmaker.

It is expected that a new round of coal price rise will not appear until April or may.

According to the Wuhan Shipping Exchange, the ships overstocking in some ports continued this week.

Brazilian mining firm Vale said it expects to achieve iron ore production capacity of 350mn t/yr this year, up by 8.7pc from a year earlier.

In 2020, China's steel bar output was 266.391 million tons.

China Metallurgical Association held a meeting to promote the high-quality development of private iron and steel, pointing out that China proposed to achieve carbon peak by 2030 and carbon neutralization by 2060.