The 2205 ferrosilicon contract price on ZCE closed at 8776 yuan per ton on May 19.

Efforts should also be made to ensure stable supplies and prices, he said.

Industry ramps up efforts for technological upgrades, intelligent and green manufacturing transformation.

The Argus 62pc index stood at $129.10/dmt on 17 May, down by 40pc on the year.

The China Iron and Steel Association's cornerstone plan will also further ensure domestic energy security.

South Korea ferrosilicon (Si>55%) imports decrease 12.83% in April 2022.

Nucor is spending $3bn to acquire CHI Overhead Doors from investment fund Kohlberg Kravis Roberts, the company said.

Japan's economy posted a contraction during January-March after a rebound the previous quarter, as the country's Covid-19 sub-emergency restrictions dented consumer spending and capped fuel consumption.