The HBIS Group, one of the world's largest steelmakers based in northern China's Hebei province, has imported iron ore from the Brazilian mining giant Vale in use of RMB clearing.
The copper price continued to recover on Thursday as investors bet on a quick bounce back in economic activity in China once the viral outbreak is brought under control.
Reuters reported that Japan’s top electric-arc furnace steelmaker Tokyo Steel Manufacturing Co Ltd said that it would keep steel product prices unchanged for a fourth straight month in February.