China becomes net steel importer in July for 2nd month in a row

China's exports of ferrosilicon (≤55%) down 35.3% YoY in July.

China's exports of ferrosilicon (>55%) down 47.89% YoY.

China's exports of ferrosilicon (≤55%) down 27% YoY in Jan-Jul.

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.

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

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.

Mechel PAO's Chief Executive Officer Oleg Korzhov commented on 1H2020 operational results: