As for the trend after the festival, many of the industry participants is optimistic, waiting for the market to further clarify.

Japanese steel mill Nippon Steel expects its crude steel output in this year's January-March quarter to recover above 10mn t for the first time since January-March 2020.

In 2020, the total output of vanadium pentoxide was 19.5 mlb, a decrease of 3% from the same period last year. (Total production in 2019 is 2020 mlb)

Aim-listed vanadium miner Bushveld Minerals has achieved a 24% year-on-year increase in vanadium production from its high-grade assets in South Africa.

The German Business Daily reported recently, the German Steel Association said, German crude steel production in 2020 was 35.7 million tons, down 10% from the weaker 2019, the lowest level since 2009.

Vale released its 2020 production and sales report, which said that in 2020, Vale iron ore production accumulated 300.4 million tons, flat with 2019. In the fourth quarter of 2020, Vale ore production was 84.5 million tons, down 5% from the previous quarter.

According to the news, the Ministry of Finance of India released its 2021 budget on February 1 and said it would reduce import duties on some stainless steel products.

The 2105 ferrosilicon contract price on ZCE closed at 7000 yuan per ton on February 4.