Other steelmaking ingredients also ended lower.

China's state planner said on Friday that it had jointly launched an investigation into coal prices with the market regulator and will crack down on speculation and hoarding.

The most traded July copper contract on the Shanghai Futures Exchange dropped to the lowest since April 15,

Iron ore, one of the hottest commodities in the early days of the raw materials rally, has now become the most volatile as bulls and bears joust over the trajectory of prices.

During this transition period, Chinese companies need to find solutions to reduce carbon emissions.

The world's top steel producer churned out 99.45 million tonnes of crude steel in May, data from the statistics bureau showed.

The US Federal Reserve also brought forward its expectations for raising interest rates, sending the dollar higher and sapping demand for metals.

Demand for lithium hydroxide continues to rise as production of high-nickel cathode cells ramp up.