According to the ex-factory prices of major industrial products in China published by the country's National Bureau of Statistics on September 25, in the mid-September period (Sept. 11-20) of the current year, steel and cement prices continued to increase, oil and coal and other energy resource prices were stable, while iron ore and nonferrous metal prices were characterized by weakness.
Mid-September saw the continued implementation of the national policy aimed at restricting electricity usage. The market was concerned about steel product shortages and major steel mills increased their product prices. Meanwhile, iron ore prices weakened.
In mid-September, common carbon steel product prices increased by 1.0-4.7 percent, while small size wire rod prices increased by 0.9-5.6 percent, both as compared to early September (Sept. 1-10).
At the same time, rebar prices in mid-September were at RMB 3,547.1-3,884.1/mt ($530.21-580.58/mt),, down by 1.2-2.6 percent from early September, while iron ore quotations for 56 percent and above iron content were at RMB 591.1/mt ($88.36/mt), down 0.6 percent from early September.
In the same period, the price of hard coal was unchanged at RMB 468.4/mt ($70.01/mt), while coking coal was at RMB 619.1/mt ($92.54/mt), down 0.1 percent - both compared to early September.
US$1 = RMB 6.69