The guideline also asked the steel industry to reduce pollutants and energy consumption by more than 20 percent and 5 percent by 2025, respectively.

Commodities including iron ore and metallurgical coal will also fuel the steel production which is needed to build new urban infrastructure and renewable energy systems and is also used in advanced manufacturing, he said.

The 2105 ferrosilicon contract price on ZCE closed at 7036 yuan per ton on March 25.

Among them, 1081 tons were exported to Korea, accounting for 53.37% and 281.48 tons were exported to Japan, accounting for 13.90%.

The 2105 ferrosilicon contract price on ZCE closed at 6,928 yuan per ton on March 24.

Demand from the stainless steel sector and foundries is expected to pick up by April as mills return to the spot market to restock.

The 2105 ferrosilicon contract price on ZCE closed at 7,018 yuan per ton on March 23.

Among them, 14663 tons were exported to Korea, accounting for 38.27% and 9090.232 tons were exported to Japan, accounting for 23.72%.