China also added a net 1.2GW of nuclear capacity to 49.9GW, 12.1GW of hydro to 370.2GW and 55.6GW of thermal capacity to 1,245GW.

The country produced 30.14mn t of crude stainless steel in 2020, up by 2.51pc from 2019.

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.

According to preliminary data released by the U.S. Census Bureau, U.S. steel imports fell 21.2%t to 22.019 million tons in 2020 from a year earlier.

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

The state-owned assets supervision and Administration Commission of Yunnan Province plans to transfer its 90% equity of Kunming Iron and Steel Co., Ltd. to China Baowu for free.

Urals-based MMK sold 5pc less steel in 2020, reaching 10.8mn t, of which 4.3mn t was hot-rolled coil (HRC), down by 3.8pc on the year.

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.