Chinese iron ore futures rose on Wednesday, touching a fresh seven-week peak before coming off their highs, as steel prices stabilised after recent gains and high port stocks pointed to ample supply.

China could file a suit at the World Trade Organization against the US decision to impose high tariffs on Chinese steel imports, according to a statement by Ministry of Commerce on Tuesday.

Sheet steel price increases US mills announced this week served to set a floor, according to sources, who said Friday that buyers are still reluctant to place large orders.

China's President Xi Jinping said Sunday his country's relations with Serbia should serve as an example for other nations in central and southeast Europe where the Asian power is seeking to boost ties.

the spot price for benchmark 62% fines rose by a further 0.69%, or 35 cents, to $51.05 a tonne, trimming its weekly decline to 2.87%.Year to date the price has now gained 17.2%.

Iron ore futures in China dropped 3% on Tuesday, while US iron ore continued its slow and steady decline as traders began to price in the effect of China’s low demand period.

Brazil’s Ferbasa said that its domestic sales of high carbon ferro-chrome totaled 31,377 tons during January to March, decreasing by 25% year on year.

[Ferro-Alloys.com]The Board of Directors of Mechel PAO made a decision to convene this year's annual general meeting on June 30. According to the company's statement, the record date is May 23.