China's Ministry of Commerce (MOC) has announced that during last week (December 23-29) the overall average finished steel price in China edged down on week-on-week basis.
In the given week, the average prices of rebar, high-speed wire rod and steel channel moved down by 1.2 percent, 1.1 percent and 0.4 percent, respectively, week on week.
The slack demand from downstream users against the backdrop of the approaching New Year holiday exerted a negative impact on long steel prices.