This week, the price of South African Cr40/42% Concs continues to rise. Chromium has shown a strong bullish trend.

As one of the hard to abate industrial sectors, the steel industry recognises that we need to act.

Higher raw materials price and bidding price, tight spot and strong futures market, the ferrosilicon spot market remain strong this week.

The 2105 ferrosilicon contract price on ZCE closed at 7200 yuan per ton on December 25.

World steel consumption is likely to decline by 2.2pc in 2020, the OCE said.

China's steel industry is expected to keep growing in 2021.

U.S. imported a total of 1,370,000 net tons (NT) of steel in November 2020.

China's crude steel output is likely to rise to 1.1bn t in 2021 to meet demand.