China to raise nickel pig iron output by up to 50pct in 2011

The project holds 2.5 billion tonnes grading 0.24% nickel for 13.3 billion lb. of contained metal.

Canada announced last week it would impose 100% tariffs on Chinese-made EVs effective October 1.

The flick higher on Friday ends five days of losses amid torrid conditions in China’s steel market.

The departures came after global prices of the key steel-making ingredient tumbled almost 40%.