On Monday, the government set 2030 as a new peak emission deadline for the sector, down from an earlier target of 2025.
“This is a big schedule adjustment that gives the steel sector more room to achieve peak emissions in an orderly manner,” said Xu Xiangchun, an analyst at research firm Mysteel.
"Hurrying to meet carbon targets could lead to 'unsustainable economic costs'," he said.
Benchmark 62 percent Fe fines imported into northern China changed hands at $149.64 a ton during morning trading, the highest since Aug. 31, according to Fastmarkets MB. The metal has rebounded more than 70% from its November plunge on expectations of more robust gains in 2022.
Iron ore futures in Singapore rose 3.8% to $153 a ton, the highest level since August 31, and traded at $148.20 by 4:20 pm local time.
President Xi Jinping said last month that climate targets must not jeopardize the supply of goods that "ensure the normal life of the masses."
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Metallurgy news
- 18 October 2025
16:00 In August, the rate of decline in coal production in Siberia fell almost four times compared to July due to support measures and rising world coal prices 14:00 Global copper production will increase slightly in 2025 13:00 Mineral wealth of the Amur region: mining results for January-September 2025 - 17 October 2025
20:00 Algeria plans to launch Gara Djebilet iron ore processing plant in 2026 19:00 LKAB and Hitachi Energy collaborate to accelerate clean steel production 19:00 Tata Steel has partnered with AWIPL to operate and maintain air separation plants at the Jamshedpur steel mill. 18:00 Shipments of HRP and HRS in Japan fell 10.4 percent in August 2025 compared to July. 18:00 The UAE is extending the 10% import tax on rebar and wire rod until October 2026.
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