January-June imports fell by 13pc from a year earlier to 20.84mn t.

On August 14, Liugang shares announced that they are planning to increase the capital by cash according to the legal procedures for Guangxi Liuzhou Iron and Steel Group Co., Ltd.

Some 71.7 billion yuan (about $10.33 billion) has been invested in the region's power grid development during the 2016-2020 period, the company said.

China's producer prices continued to fall in July but the decline has kept narrowing as economic activities recovered amid effective epidemic control in the country, official data showed Monday.

Rail freight of coal and ore also posted robust year-on-year growth in the first half of this year in Xinjiang.

The trade volume from January to May totaled 172 billion yuan ($24.3 billion), an increase of 21.1 percent over the same period last year.

Oversupply concerns weigh heavily on the steel sector in China as some 80 million metric tons of fresh capacity will hit the market this year amid dwindling demand due to the COVID-19 epidemic, an industry expert said.

China iron and steel association (Cisa) member mills increased steel output to a record high in late July as stimulus and lockdown delays extended the construction season into late summer.