Adhering to green and intelligent development is fundamental to the healthy development of the steel industry in China, he said.

However, iron ore imports during the period declined 2.4 percent to 784 million tons.

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The World Steel Association (worldsteel) released its Short Range Outlook (SRO) for 2019 and 2020.

As coal accounts for a major part of China's energy consumption, efforts are needed to make scientific coal exploration plans.

Zhanjiang is now promoting the construction and production of its steel and petrochemical industries.

The agreement will establish a multi-level commodity trading market system and win China more of a say in the pricing of metals.