The tone of steel bidding in September was established last Friday with the bidding price of HBIS Group at 10700 yuan per ton.

Chinese magnesium metal prices have rebounded following a fall earlier this week as producers raised their offer prices in response to tighter spot availability.

No firm date was given for the introduction of the planned changes.

More buying interest from steelmakers is expected in the next few weeks and there should be an increase in inter-merchant trading in that time.

The manufacturer's confidence was very good, and the market was mainly strong.

At present, "out of stock" is still the main theme.

Prices for low-carbon ferro-chrome in Europe rose to their highest level since November 2008 because of shortages in raw materials supply.

“We do have fewer blast furnaces as a percentage of our steelmaking in the United States,” Anderson noted.