The decrease is 0.1 percentage point greater than expected.

Stronger than expected floor space starts in China in October indicates demand for steel from the property construction sector could be stronger than anticipted in early 2020.

SMB, together with Singapore's Winning, won a tender to develop Simandou's blocks 1 and 2.

Following months of uncertainty, thousands of British Steel workers are feeling cautiously optimistic.

"Improving product quality should be a major priority, to use high standards to push forward high quality development of the industry."

A source had already confirmed that a deal was in the works earlier on Monday, amid press reports that Jingye would pay 70 million.

Chinese ferro-silicon prices continued their steady performance amid firmer steel prices and export market stable in China.

CISA data showed their member companies have seen a 32 percent drop in profits.