"The previously pent-up steel consumption will not disappear. It will only be delayed," Shi said.

The Indian government said on Tuesday that the country's coal production increased 29 percent year-on-year to 66.58 Million Ton (MT) in April amid a power shortage due to lesser stocks of coal available at thermal power plants.

The Boao Forum for Asia (BFA) Annual Conference 2022 which ended on Friday was closely watched by business runners and scholars worldwide as the global economy desperately needs impetus and certainty.

Vietnam spent around 4 billion U.S. dollars importing more than 3.8 million tons of steel and iron in the first four months of this year.

Facing the pressure of increasing uncertainties in the global energy market caused by geopolitical conflicts, China has pledged maximum efforts to safeguard its energy supply.

Sinosteel Cam S.A. estimates that at least 600 direct jobs and more than 1,000 indirect jobs will be created through the project.

In north China's Inner Mongolia Autonomous Region, the rugged surface of an exhausted coal mine has received a major face-lift, newly populated by 1.12 million photovoltaic modules, beneath which numerous plants are flourishing.

An overhaul for the Datong-Qinhuangdao railway has been recently carried out on a daily basis to secure safe and smooth rail operations.