Korea's leading steel companies are going through a difficult period in the first quarter of this year. Leading names in the industry such as POSCO, Hyundai Steel and Dongkuk Steel experienced significant decreases in their performance.

China's coal-rich Shanxi Province reports rising coalbed methane output.

China's raw coal output fell 4.1 percent year on year to 1.11 billion tonnes in the first quarter of this year, official data showed.

Indian steelmaker Tata Steel Limited will proceed with its £1.25 billion investment to build an electric arc furnace at Port Talbot in Wales, UK, replacing two blast furnaces,

SLN is part of a struggling New Caledonian nickel industry that the French government is trying to salvage with a proposed rescue package.

More Chinese nickel is expected to flow overseas after the London Metal Exchange banned new Russian supplies, according to Mysteel Global.

"The key to new quality productive forces lies in the profound transformation and upgrade of industries," Dai stressed.

Most of the capital goods monitored by China's statistical authorities registered higher prices in mid-April compared with early April, official data showed Wednesday.