Sierra Leone says will no longer provide forex for mining companies importing fuel

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

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.

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.

New energy generated from renewables gains more ground as private firms, SOEs up efforts.

Of the 50 major goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer and some chemicals.