China’s Ministry of Commerce (MOC) has announced that during last week (May 6-12) the average steel price in China decreased by 0.2 percent compared to the previous week.
In particular, in the given week prices of 50 mm x 50 mm equal angle steel, 80 mm x 43 mm x 5 mm channel steel and 10 mm steel plate decreased by 0.4 percent, 0.3 percent and 0.3 percent respectively, all week on week.
In the week ending May 12, average prices of minerals in China increased by 0.2 percent compared to the previous week. Furthermore, the average prices of copper ore and zinc ore increased by 5.3 percent and 0.5 percent, the prices of lead ore and iron ore remained unchanged, while the price of molybdenum ore declined by 1.5 percent, all compared to the previous week.
Meanwhile, in the given week, average prices of energy in China were up 0.4 percent week on week. The average prices of crude oil increased by 1.3 percent following week-on-week declines over 10 consecutive weeks, while the average prices of raw coal and coke remained unchanged, all on week-on-week basis.