China's Ministry of Commerce (MOC) has announced that during last week (May 27-June 2) the average steel price in China decreased by 0.4 percent compared to the previous week.
In particular, in the given week prices of 80 mm x 43 mm x 5 mm channel steel, 140 mm x 80 mm x 5.5 mm I-beam and 12 mm diameter rebar decreased by 0.6 percent, 0.6 percent and 0.5 percent respectively, all week on week.
In the week ending June 2, average prices of minerals in China decreased by 2.5 percent compared to the previous week. Furthermore, the average prices of iron ore, molybdenum ore copper ore, and zinc ore decreased by 2.9 percent, 0.6 percent, 0.5 percent and 0.3 percent, all compared to the previous week.
Meanwhile, in the given week, average prices of energy in China were down 0.1 percent week on week. The average prices of crude oil and metallurgical coke decreased by 0.8 percent and 0.2 percent, while the average price of raw coal remained unchanged, all on week-on-week basis.