The campaign will last until the end of March.

The 2105 ferrosilicon contract price on ZCE closed at 7338 yuan per ton on February 18.

The 2105 ferrosilicon contract price on ZCE closed at 6814 yuan per ton on February 8.

On February 3, the daily turnover of steel in China was 18300 tons,lower than 100000 tons per day for 9 consecutive days and 50000 tons per day for 5 consecutive days.

Nippon Steel today revised up its projected crude steel output to 33.2mn t for the April 2020-March 2021 fiscal year from an earlier forecast 32.7mn t.

China imported 3.57mn t of coking coal last month, down by 4pc from 3.72mn t in November but up by 110pc from December 2019.

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

The 2105 ferrosilicon contract price on ZCE closed at 6740 yuan per ton on February 5.