China's Ministry of Commerce (MOC) has announced that last week (July 16-22) average steel prices in
China indicated a decline of 1.1 percent week on week amid weak downstream demand and increased steel production.
In particular, in the given week prices of 3 mm hot rolled sheet, 10 mm plate and 6.5 mm diameter high-speed wire rod declined by 1.9 percent, 1.7 percent and 1.4 percent week on week, respectively.
In the week ending July 22, the average price of iron ore in
China declined by 2.7 percent, while average prices of raw coal and metallurgical coke declined by 2.4 percent and 1.5 percent respectively, all week on week.