Vietnam's coal output in the January-April period fell 1.9 percent from a year ago to 16.6 million tons, according to the General Statistics Office.

Finished Import Market Share YTD at 23%.

China's Shanxi sees 67.1% growth in trade with ASEAN in Q1.

China's Hunan reports robust foreign trade growth with Africa in Q1.

These factors should lead to soaring steel demand in Q3 and Q4, Tuan said.

BHP is looking into initiatives to grow its iron ore production to 300 million tonnes per annum.

The head of diversified miner BHP, Mike Henry, has highlighted the massive investment required in the resources sector to meet global decarbonising efforts.

Iron-ore futures wobbled on Friday and were on track for weekly losses due to waning optimism over prospects for demand recovery in top steel producer and metals consumer China, with additional pressure from rebounding supplies from Australia and Brazil.