Oversupply concerns weigh heavily on the steel sector in China as some 80 million metric tons of fresh capacity will hit the market this year amid dwindling demand due to the COVID-19 epidemic, an industry expert said.

LME nickel price trend on August 13th

During the covid-19 epidemic, the export growth of steel and iron ore was significantly higher than that of automobile.

Information from the RBA's capex survey and the bank's liaison programme indicate that investment is expected to increase slightly over the year ahead as work on iron ore and coal projects increase.

The 2010 ferrosilicon contract price on ZCE closed at 5710 yuan per ton on August 14.

Nickel price trend on August 13th

LME nickel price trend on August 12th

The 2010 ferrosilicon contract price on ZCE closed at 5746 yuan per ton on August 13.