The executive, who was ousted from a Belgian aluminum plant unit earlier this month, has successfully battled in court to be appointed back to the board.
For the first four months of the year, the market was in a 69,000 tonnes surplus compared with a 110,000 tonnes surplus in the same period a year earlier.
Steel producers in China's Jiangsu, Fujian and Yunnan provinces were told to cut production as the country aims to keep its annual output no higher than it was in 2020.