On March 18, China's Ministry of Commerce (MOC) announced that during last week (March 10-16) the overall average finished steel price in China declined by 0.3 percent week on week.
In the given week, the average price of 12 mm diameter rebar and 3 mm hot rolled common sheet were both down 0.5 percent, week on week.
In the week ending March 16, the average price of minerals in China was down 2.5 percent compared to the previous week. In particular, the average prices of copper ore, zinc ore, iron ore, tin ore, molybdenum ore, lead ore and tungsten ore were down 8.4 percent, 3.1 percent, 2.4 percent, 1.4 percent, 1.4 percent, 1.2 percent and 0.8 percent, respectively, week on week. Meanwhile, the average price of antimony ore remained stable.
In the given week, the average price of non-ferrous metals in China was down 3.5 percent compared to the previous week. The average price of nickel (Ni >= 99.2%) increased by one percent week on week.
In addition, in the week in question, the average price of energy in China decreased by 1.4 percent week on week. The average prices of brown coal, bituminous coal and anthracite coal were down 4.7 percent, 2.5 percent and 2.1 percent respectively, all week on week. Meanwhile, the average price of crude oil was up 1.6 percent, while the average price of metallurgical coke remained unchanged, both week on week.