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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.

On the 27th, the national billet market rose steadily.

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

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

China will come out with an action plan soon to further reduce the carbon footprint of the steel industry in the country, a top industry association said on Wednesday.

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

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