Vale, one of iron-ore’s biggest swing factors, may determine whether prices of the steelmaking ingredient break through to multiyear highs or retreat once again.

Iron-ore prices in Asia pushed higher on Monday as strengthening global steel demand buoyed sentiment, and as Chinese steel mills continued to ramp up output despite the government's scrutiny of their compliance with stricter anti-pollution rules.

Fujian Juwei stainless steel pipe project environmental assessment plan is under approval

Although China saw rapid development of the solid waste management and recycling sectors, it still faces great challenges, Song said.

"These efforts would result in a big cut to emissions—which would be amplified by synchronization across markets," she said.

This was a 32.6% increase from the 2,052,000 permit tons recorded in February and a 43.2% increase from the February final imports total of 1,900,000.

China's industrial output, an important economic indicator, rose 24.5 percent year-on-year in the first quarter of this year, as the country's industrial production rebounded steadily, according to the National Bureau of Statistics on Friday.

Hot dipped galvanized sheet and strip, down 7 percent, hot rolled sheet, down 9 percent and cold rolled sheet, down 10 percent.