Vale is a major global producer of iron ore, copper and nickel.

The company and Indonesian energy and mineral resources ministry could not be reached for comment.

DCH Group acquired the mine from Evraz Group back in May 2017.

The American Iron and Steel Institute(AISI) reported that for the month of August 2023, US steel mills shipped 7,663,767 net tons, unchanged from the 7,675,344 net tons shipped in August 2022.

The spot price of ferrosilicon was supported by the rising cost of raw materials, and the tender price was higher than market expectations, further driving up positive sentiment.

Glencore Plc said on Wednesday it will stop funding the loss-making Koniambo Nickel SAS (KNS) business it co-owns in New Caledonia at the end of February, adding to pressure on the troubled nickel sector in the French Pacific territory.

The 2311 ferrosilicon contract price on ZCE closed at 7528 yuan per ton on September 27.

the US steel import market share in August 2023 was estimated at 21 percent, compared to 21 percent in July and 22 percent year-to-date.