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Both environmental protection and project profits were concerns for the company which is located in Shanxi, a coal-rich province of China.

The European Union has transitioned its hot-rolled coil quota to a country-by-country and quarterly basis.

A widening gap between export and domestic prices fuelled the increases.

US gross domestic product (GDP) will not reach its pre-pandemic levels until well into 2022 following a sharp contraction this year, economists with major US banks said.

The China Tianjin Bulk Freight Index (TBI), an indicator of northern China's international bulk freight rates, stood at 541.09 points on Tuesday, up 0.05 percent compared with the previous working day.

UK's Chancellor of the Exchequer Rishi Sunak has authorized a bailout plan to rescue companies that are seen as strategically important.

Profits at industrial firms declined at a slower pace in April as production and sales rebounded amid the nationwide restoration of economic activities, the National Bureau of Statistics said on Wednesday.

"As one of the first national demonstration cities for 5G, Urumqi has provided a primary ecosystem for the commercialization of the network," Yasen said.