"There is no shortage of supplies. The price surge is not an exact reflection of the current supply and demand situation," said an analyst.

Decarbonization efforts in China will not stoke inflation, says NDB official.

This happens routinely in a coal mine owned by Jinneng Holding Group, a State-owned energy giant headquartered in Taiyuan, Shanxi province.

India's largest steel company cuts production by 10% due to epidemic

India's JSW Steel's crude steel production and capacity utilization rate decline in April

That month, a high-speed train linking Beijing and Chengde city in Hebei went into operation.

Even though China's foreign trade surged more than 29 percent on a yearly basis in the first quarter, the public should not get unduly optimistic.

Deng Jun, executive vice-president of Aux Group, said, "The rising prices of aluminum, copper and steel (iron ore) have forced us and the whole industry to raise product prices."