The remarks came after the association reported weakening demand of steel materials and high prices of raw materials used in production like coking coals.

Overseas players grasp opportunities from dual goals, enhance local ties, R&D.

Lian also introduced development situations of Hebei during the conference.

The industrial profit data covers large firms with annual revenues of at least 20 million yuan from their main operations.

Will Gabon's economy benefit from Africa's metals boom?

The world stainless association released figures for the first half year of 2022 showing that stainless steel melt shop production decreased by 3.5% year–on–year to 29.0 million metric tons.

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.7 million tonnes (Mt) in September 2022, a 3.7% increase compared to September 2021.

The Argus 62pc lump premium stood at 20￠/dry metric tonne unit (dmtu) on 30 September, the highest since June.