The country mainly bought steel from China, with 5 million tonnes valued at 4.38 billion USD, accounting for 40.3 percent and 38 percent of the total volume and turnover, respectively.

A comparison of shipments for full year 2021 to full year 2020 shows the following changes: corrosion-resistant sheet and strip, up 18 percent, cold rolled sheet, up 15 percent, and hot rolled sheet, up 12 percent.

China's key steel hub policy set to lead to long-term decline in steel output

London-listed miners with Russia exposure slump

London-listed miners with Russia exposure slump

The African Energy Chamber estimates that Africa's power generation capacity should increase from the current 848.6 terawatts to 2,622 terawatts in 2040 in order to develop its economy.

The 2205 ferrosilicon contract price on ZCE closed at 9322 yuan per ton on February 24.

"Iron ore prices could be pressured this year on lower output of China's crude steel and rising supply of overseas mines," said Zhu.