Shanxi's raw coal output accounted for about 29 percent of the country's total in the first quarter.

All these factors will support a surge in steel consumption in the third and fourth quarters of this year, the VSA added.

China's steel sector saw output expansion in the first quarter of the year, industrial data showed.

The institute has developed the 0.08mm ultra-thin grain-oriented silicon steel strip and iron core in collaboration with several other companies and institutes including China Iron & Steel Research Institute Group.

Electric arc furnace (EAF) platemaker Nucor has increased its plate prices by $40/short ton (st).

Patrik Schober, a media representative of Tameh Czech, said negotiations are "under way" between the companies, but would not comment further.

US exports to China totalled 439,924t in February, more than trebling compared with a year earlier.

The curve is in a clear backwardation, with May trading on screen almost €50/t below the underlying Argus assessment, which stood at €834.25/t.