Innovation is a fundamental condition for China's steel industry to achieve high-quality development during the 14th Five-Year Plan(2021-25) period and beyond, according to a senior industry expert.

Political tensions between Australia and China did not appear to affect trade between the two countries in October, as a rise in iron ore export receipts sent the value of Australia's shipments to its biggest trade partner to a four-month high.

“Chinese steel producers are keen to buy more US coking coal to replace Australian cargoes blocked by import curbs, giving the first significant boost to this trade flow since China imposed retaliatory tariffs on US coal in 2018.

The strong economic data boosted sentiment even further in the iron ore market.

Among them, the number of outbound trains during the period was 1,023, up 54.3 percent year-on-year, while 1,135 inbound trains were recorded, up 52.6 percent, according to China Railway Hohhot Group.

Among them, the number of outbound trains during the period was 1,023, up 54.3 percent year-on-year, while 1,135 inbound trains were recorded, up 52.6 percent, according to China Railway Hohhot Group.

China's benchmark power coal price rose slightly during the past week.

JSW Steel reports 3% rise in November crude steel production, utilisations flat due to iron ore shortage