China’s Ministry of Commerce (MOC) has announced that during last week (September 3-9) the average steel price in China indicated a decrease of 1.6 percent compared to the previous week. Specifically, in the given week prices of 3 mm hot rolled sheet, 6.5 mm diameter high-speed wire rod and 160 mm x 65 mm x 8.5 mm channel steel declined by 2 percent, 1.9 percent and 1.8 percent week on week, respectively.
Meanwhile, the average price of iron ore in China declined by 7.1 percent week on week last week, while the aggregate decrease in the last three weeks was 13.2 percent.