Australia's top mining industry body on Wednesday set out a code for its members to eliminate sexual harassment, after several incidents in Western Australia state renewed focus on the issue.

"Considering spot prices are supported by costs, steel will remain fluctuating at high levels," GF Futures said.

Surging demand and prices for commodities including platinum-group metals, iron ore, manganese and coal are generating record mining-company profits and bolstering government revenue.

Although tech and bank CEOs get all the limelight, eight of the 100 richest people in the world are in the metals and mining industry.

Steel output at some producers was restricted due to the Chinese Communist Party's 100th anniversary and environmental-related policies.

The equipment will be used to help shut down two upstream dams, the B3/B4 dam of the Mar Azul mine and the Sul Superior dam at the Gongo Soco mine.