Vale, Rio Tinto and BHP are due to report production data this week as well as give market outlooks.
Goldman Sachs sees prices averaging $11,000 per tonne over the next 12 months.
China’s manufacturing expanded at a faster-than-expected pace in March, while activity in the construction sector also increased.
Over 20 projects are expected to commence operations until 2024.
Chinese steel futures extended their rally in early trade to hit fresh peaks, boosted by strong domestic demand.
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