Nippon Steel Vice Chairman Takahiro Mori returned to the US in an effort to close the deal amid growing regulatory scrutiny and political opposition.

Vale said that its inclusion in the list is incorrect and that it will take the necessary steps for its immediate removal.

China's iron ore imports in the first five months reached 513.75 million tons, a year-on-year rise of 7%.

The miner closed a 10-year deal with Wabtec to optimize the maintenance services for its fleet in the Estrada de Ferro Carajás.

The government has also set a 12-year period for the payments to be made.

About $1.5bn invested in energy transition-related projects are at risk through 2030, research from Bain & Company shows.

The Onslow iron ore project is a joint venture with giant steelmakers China Baowu, POSCO and Advanced Micro Controls.

Iron ore futures extended their decline to a fifth straight session on Wednesday.