State-owned metals and mineral trading firm China Minmetals signed a 20 million tonne iron ore purchase agreement with Brazilian mining giant Vale on Tuesday.
The agreement was signed during a ceremony at the China International Import Expo in Shanghai.
China is the world's biggest consumer of the steelmaking ingredient.
Minmetals also signed a 2,400 tonne nickel briquette purchase agreement with Japan's Sumitomo Corp. That was for purchases over a five-year period.
The copper price came under renewed pressure on Monday after headline figures showed a slowdown in the Chinese economy to annual rates of growth not seen in nearly three decades.
Oil prices fell on Monday, in line with weaker stock markets after evidence that economic growth in China, the world’s second largest crude consumer, eased in 2018.
China’s state-run energy giant is making a new approach to strike a $3 billion Iranian oil field, seeking to take advantage of waivers allowed under US sanctions even as two European nations have ended crude purchases, according to people familiar with the matter.
The United States is likely to extend waivers from sanctions on Iranian oil imports in May, but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said.
A new steel ingot production unit will open in the city of Sirjan, Iran’s province of Kerman, in early February, an Iranian lawmaker said, adding that the opening ceremony will be attended by First Vice-President Es’haq Jahangiri.
China's state-run energy giant Sinopec offered a three-billion-dollar deal to further develop an Iranian oilfield the two countries are already working on, media reports said.