In 2020, crude steel output rose by 5.2 percent year on year to exceed 1.05 billion tonnes, according to the China Iron and Steel Association.

Export tariffs on ferrosilicon, ferrochrome, high-purity pig iron would be raised to 25 percent, 20 percent and 15 percent, respectively.

The 2109 ferrosilicon contract price on ZCE closed at 7,688 yuan per ton on May 7.

A reading above 50 indicates expansion, while a reading below reflects contraction.

ZENITH released ferrosilicon bidding in May with a volume of 2100 tons.

The 2109 ferrosilicon contract price on ZCE closed at 7,576 yuan per ton on May 6.

A reading above 50 indicates expansion, while a reading below reflects contraction.

The PMI for China's non-manufacturing sector moderated to 54.9, down 1.4 percentage points from March.