On February 25, China's Ministry of Commerce (MOC) announced that during last week (February17-23) the overall average finished steel price in China remained stable week on week.
In the given week, the average price of 6.5 mm high-speed wire rod was down 0.2 percent, while the average price of 50 mm x 50 mm x 50 mm angles was up 0.2 percent, both week on week.
In the week ending February 23, the average price of minerals in China was up 0.1 percent compared to the previous week. In particular, the average prices of tungsten ore, tin ore, lead ore, and copper ore were up 1.7 percent, 0.5 percent, 0.4 percent and 0.2 percent respectively, while the average prices of iron ore, antimony ore and zinc ore remained stable, with the average price of molybdenum ore down 0.3 percent, all week on week.
In the given week, the average price of non-ferrous metals in China was down 0.3 percent compared to the previous week. The average price of nickel (Ni >= 99.2%) declined by 0.4 percent week on week.
In addition, in the week in question, the average price of energy in China decreased by 1.2 percent week on week. The average prices of brown coal, bituminous coal and anthracite coal were down 3.9 percent, 2.2 percent and 1.8 percent respectively, all week on week. Meanwhile, the average prices of coke and crude oil were down 1.1 percent and 0.5 percent compared to the previous week.