"In the third quarter, I think you'll see a meaningful rebound aided by measures taken by the central bank," he told China Daily.

Latin America saw its production of crude steel in December fall by 12% compared to the same month of 2018.

China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemic.

Ferrosilicon futures 2005 contract close at 5762 on Friday February 21.

The steel mills continue purchasing ferrosilicon but the tender price declining from last week.

Ferrosilicon futures 2005 contract close at 5784 on Thursday February 20.

Nickel price trend on February 20th

The Telegraph reported that British Steel bidder Jingye is set to axe 400 jobs at the embattled firm's Scunthorpe plant as it closes in on a takeover.