China's steel output and inventory both fell in March, according to data from the China Iron and Steel Association.

Iron ore futures closed lower on Monday in daytime trading at the Dalian Commodity Exchange (DCE).

China saw continuous environmental improvement last year, with reductions in airborne pollutants in major polluted cities and severely polluted surface water across the country, authorities said.

The China Iron Ore Price Index (CIOPI) dropped slightly at the end of March from the previous month due to the decline in steel output, according to the China Iron and Steel Association (CISA).

Iron ore futures opened higher Monday in daytime trading on the Dalian Commodity Exchange (DCE).

The Ukrainian government passed a resolution imposing a 65 percent duty on imported Russian coal with some exceptions starting from April 15.

China is capable of navigating its economy amid the COVID-19 fallout, and opportunities for the world's largest developing economy are promising in the long run despite virus-prompted challenges, economists and market strategists have said.

On average, 11.16 million tons of freight were carried by railway per day in March, its high level since February, which stayed flat from the previous year.