The 2010 ferrosilicon contract price on ZCE closed at 5644 yuan per ton on September 17.

This is because upward momentum in property and infrastructure, which account for over 55% of China's total steel consumption, has slowed.

The plant can produce 300,000 mt/year of hot rolled coils and 160,000 mt/year of pickled and oiled coils.

Market sources were not surprised by the announcement.

Technology Metals Australia Limited (ASX: TMT) has announced a significant update of the Gabanintha Vanadium Project in Western Australia’s Proven and Probable Ore Reserve estimate and increased the estimated Life of Mine to 22.5 years.

The 2010 ferrosilicon contract price on ZCE closed at 5612 yuan per ton on September 16.

The settlements for BF-grade pellet premiums are nearly flat with the previous quarter and lower by around $3/dmt for DR-grade pellets.

Japanese ferrous scrap exports rose by 28pc in June from May to 883,157t, boosted by increased price competitiveness against US exports in Asia.