The inventories at 37 sampled mills also decreased by 15,200 tonnes on week to around 1 million tonnes as of November 25, according to the survey.

The 2101 ferrosilicon contract price on ZCE closed at 6196 yuan per ton on December 1.

While policy and decision-makers ostensibly take such measures to reduce the final offer of steel in the domestic market and support end consumers, in essence, such moves have had the opposite effect.

“AVL is developing one of the highest-grade vanadium projects underway in the world and our aim is to become a low-cost producer able to withstand long-term commodity price cycles,” said managing director Vincent Algar.

Nickel price trend on December 1st

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