Prices remain down by 33pc from their April peak of $1,200/st.

China's steel industry maintained steady operations in the first three quarters of 2023, marked by an increasing output and improved structure, the China Iron and Steel Association (CISA) said on Tuesday.

The country produced 3.44 billion tonnes of raw coal during the period, according to the National Bureau of Statistics.

Coal is a main export commodity of Mongolia, which is rich in natural resources.

Japan’s JFE Steel Corp is in talks to buy a stake in the metallurgical coal business of Canada’s Teck Resources, two people aware of the development said, adding to the list of suitors that also includes miner Glencore.

Coal miner Whitehaven Coal has struck $3.2-billion deal with diversified miner BHP and Mitsubishi Development to acquire the Duania and Blackwater metallurgical coal mines in Queensland.

Iron-ore production in the first quarter ended September fell by 3% on the previous quarter, to 63.2-million tonnes

Rio Tinto reported a 1.2% rise in its third-quarter iron ore shipments on Tuesday, as the Anglo-Australian miner ramped up production at its Gudai-Darri mine.