Its main imports from Australia last year included iron ore and natural gas, which took up 70.6 percent of the total Chinese imports from Australia.

One of the routes, linking China and Malaysia, will help build an efficient and low-cost maritime logistics channel.

Roach said he expects container rates to normalize later in the year after COVID-19 vaccines have been rolled out globally.

Imports of iron ore and iron ore concentrates also rose, climbing 11 percent from 2019.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provinces and regions.

China will step up efforts in reducing steel production and set up a mechanism for the regulation of the remaining steel to reach goals for "carbon-peak" and "carbon neutralization".

The very first "metal farms" are starting to appear in China and Europe, with Asian experts leading this imaginative and green-friendly technology.

German crude steel production drops by 10% in 2020