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The total trading volume of 2403 contract on the exchange was 164876 lots, with a turnover of about 5521.3345 million yuan.

Also in 2023, new orders surged 56.4 percent year-on-year to 71.2 million deadweight tons, accounting for 66.6 percent of the global total, the data showed.

The industry association will also continue to call for the restoration of export tax rebates for high-end steel products.

The total trading volume of 2403 contract on the exchange was109611 lots, with a turnover of about 3676.0423 million yuan.

Alexander Becker, the head of renowned steel manufacturer Georgsmarienhütte, has raised a poignant critique against the German government's decision to retract a planned €5.5 billion subsidy for electricity network fees.