The People's Bank of China on Saturday called for the strengthening of real estate policy in light of sluggish economic growth over the past several years.

While some analysts expect the metal to rise towards record highs in 2023, weakening economic growth has pulled prices down 14% this year.

Commodity research firm says production growth, weaker demand and negative sentiment in the industry will see iron ore, copper and industrial metals sink next year.

China will implement policy measures to support the economy and aim for an improvement in growth in early 2023.

China's imports of primary aluminum jumped to a one-year high of 110,700 tonnes in November.

Mysteel reports that production of coking coal used by the steel industry has halved in the top mining hub of Shanxi.

Evergrande Group has resumed work on some property projects, bringing relief to the market.

While 2022 has largely been a story of the necessity of fossil fuels, it's likely that the surging prices accelerate the drive to renewable energies.