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.

Murray Energy is the latest to join a string of coal companies.

Indonesia may decide on Thursday whether to resume nickel ore exports

Trading firm Traxys agrees to cobalt marketing deal with Nornickel

"The trend is for prices to gradually dip down but the path will be really bumpy," Liao said.

An increase on the tariff on Turkish steel to 50% was announced by Trump via Twitter, but never officially implemented.

The blast furnace has a capacity of 1.3 million crude steel/year and the stoppage will at least be for four-six weeks.