Policies seek to boost efficiencies in nation's waste recycling system.

"These policies will support the property and infrastructure sectors, which will benefit steel demand."

Most of the capital goods monitored by China's statistical authorities registered higher prices in early March compared with late February, official data showed Thursday.

"Blue hydrogen" has its carbon emissions captured and stored, or reused.

The use of green and low-carbon technologies in emerging sectors is another priority of the policy document.

Both pellet premiums are based on Fastmarkets’ 65% Fe Brazil-origin iron ore fines CFR Qingdao index.

And the UK export market has also been affected by a combination of weaker demand into deep-sea destinations such as Turkey and the Indian subcontinent.

Serra da Serpentina has an estimated resource of 4.3bn t. Minas Rio's pellet feed ore production was 24mn t in 2023, up by 12pc from a year earlier.