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The trading scope and participants in China's national carbon emission trading system may further increase as market ramps up to help attain the country's green targets, industry experts said.

It is expected that by 2025, systematic and tiered low carbon standards will be established for sectors, enterprises and products.

The NDRC warned it would take a "zero" tolerance approach and crack down on illegal activities like spreading false information and price gouging in the market.

China's futures market should improve services provided to companies and further open up to international investors to better serve the real economy, experts said during a forum on Wednesday.

Revilla said the index gives a good sign since "money always flows in the right direction."

“We do have fewer blast furnaces as a percentage of our steelmaking in the United States,” Anderson noted.

Meanwhile, small and private businesses are making their own efforts to tide through these tough times.

"As a major supplier of other key materials, such as aluminum, copper, high-carbon ferrochrome and iron ore products, we are also well-placed to support the country's plans to build new infrastructure."