In the short term, the policy of energy consumption restrictions and electricity price adjustment in the main production areas will continue to support the strong operation of ferrosilicon spot market.

The amount exceeded the previous record of 1.08 billion tons in 2017, said the General Administration of Customs.

"China has been the largest market for Vale since 2006 and has become more and more important to Vale in recent years," Xie said.

The 2105 ferrosilicon contract price on ZCE closed at 7746 yuan per ton on February 24.

The 2105 ferrosilicon contract price on ZCE closed at 7,684 yuan per ton on February 25.

The 2105 ferrosilicon contract price on ZCE closed at 7530 yuan per ton on February 23.

From 2016 to 2020, Hebei reduced its crude steel production capacity by over 82 million tons, said the report delivered at the annual session of the provincial legislature, which opened on Friday.

Ground has been broken for a massive expansion project that will add an electric arc furnace to the AM/NS Calvert steel mill north of Mobile.