The Ministry of Commerce (MOC) of China has stated that in the week ending June 10 the average prices of iron and steel in the domestic market dropped by 0.2 percent week on week.
In the week in question, average prices of 50 mm x 50 mm equal angles, 6.5 mm high speed wire rod and 1 mm cold rolled sheet decreased respectively by 0.5 percent, 0.3 percent and 0.3 percent on week-on-week basis. The MOC also stated that average iron and steel prices in China have decreased by a total of 2.2 percent over the past eight weeks.