Low-grade iron ore that has fallen out of favor with many of China's steelmakers is still in demand as mills keep buying the cheaper product, according to a junior Australian supplier.

The price of the main contract of China's crude oil futures settled at 420.3 yuan (76 U.S. dollars) on Friday, 4.3 yuan higher than its listed benchmark price at 416 yuan per barrel.

On Friday, the Shanghai International Energy Exchange (INE)

China's first shale gas field Fuling, with an annual capacity of 10 billion cubic meters, has become the world's second largest next to North America, Ecns.cn reported on Monday.

China National Petroleum Corp (CNPC) has obtained offshore crude oil and natural gas extraction rights in Abu Dhabi, domestic news site ifeng.com reported on Wednesday, citing sources familiar with the matter.

Glencore Plc, the world's biggest producer of cobalt, has agreed to sell around a third of its cobalt production over the next three years to Chinese battery recycler GEM Co Ltd, according to a filing by GEM on Wednesday.

China's Zijin Mining Group Co. Ltd. has expressed interest in buying loss-making Serbian copper miner and smelter RTB Bor, which the Balkan state has been trying to sell for the past decade.

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