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World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 162.7 million tonnes (Mt) in May 2019

Iron ore futures closed higher on Monday at the Dalian Commodity Exchange (DCE).

Chinese steel producers saw their profits fall 18.2 percent year on year in the first five months of 2019.

As Jiang explained, the iron and steel industry is an important pillar of China's economy.

The panel will report to the Chinese authorities about factors disturbing the normal market order of iron ore.

Iron ore futures fell sharply on Friday.