With the rapid increase of sea freight and procurement costs, ferrous metal buyers are facing the problem of limited spot supply of steel and its raw materials.

Qingshan group plans to build a new ferrochrome production line in Indonesia.

Successful lifting of the first column of No.2 boiler in 2 × 350MW + 1 × 380mW project of Indonesia Qingshan phase V

Baosteel Resources International, the raw material purchasing subsidiary of Baowu iron and Steel Group, the world's largest steel producer, has signed a strategic cooperation agreement with sibanthracite group, a large Russian coal producer.

According to the latest data of the World Iron and Steel Association, in January, the crude steel output of 64 countries included in the statistics of the world iron and Steel Association was 162.9 million tons, up 4.8% year-on-year.

Erdos is China's main coal-producing and consuming region. Envision's new project is designed to promote the use of cleaner energy in the area.

June prices increased by $30/st to $1,070/st, while July prices rose by $31/st to $1,004/st. August futures prices rose by $18/st to $956/st.

Baidu owns 55pc of the joint venture and Geely 45pc. Other details, including the location, construction schedules and design capacity were undisclosed.