In the week ending April 22, prices of the main feedstock materials used in Chinese manufacturing, including minerals, rubber, non-ferrous metal, steel, energy and chemicals, indicated a decline, according to the latest report issued by China's Ministry of Commerce (MOC).
In particular, in the week in question mineral prices decreased by 0.9 percent week on week. Prices of iron ore and copper ore declined by 0.9 percent and 1.1 percent week on week respectively. Meanwhile, steel product prices softened by 0.3 percent week on week. Due to the release of steel production capacity and increased steel supplies, steel prices have been following a slight downtrend in the past eight consecutive weeks, according to the MOC.