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 7000 yuan per ton on February 4.

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.

The 2105 ferrosilicon contract price on ZCE closed at 6614 yuan per ton on February 3.

The first shipment of iron ore from Sierra Leone's New Tonkolili Iron Ore Project set sail for China from the country's Pepel Port on Friday.

The 2105 ferrosilicon contract price on ZCE closed at 6582 yuan per ton on February 2.

China's steel sector registered output expansion last year, industrial data showed.

The 2105 ferrosilicon contract price on ZCE closed at 6752 yuan per ton on February 1.