Elevated production costs for Turkish producers amid low scrap availability and less slab purchasing options.

However, the net debt to equity ratio of steel companies is still significantly better than in the 2010-2019 period.

The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

The 2303 ferrosilicon contract price on ZCE closed at 8234 yuan per ton on January 4.

While ensuring safe production, Shanxi has accelerated expanding its output and transport capacity and optimized and restructured coal mines to ensure energy supply.

During this period, the province also transmitted 18 percent more electricity to support other regions -- as against the figure for the same period in 2021.

The channel is also a major route for China's west-to-east coal transportation, ensuring the country's energy consumption demand is met.

By September this year, the number of iron and steel enterprises in the northern Chinese province had been slashed to 39 from 123 about 10 years ago.