MOC: Average steel prices in China down slightly last week

Wednesday, 06 January 2021 10:58:19 (GMT+3)   |   Shanghai

China's Ministry of Commerce (MOC) has announced that during last week (December 28-January 3) the overall average finished steel price in China has edged down slightly.

In the given week, the average prices of hot rolled steel strip, welded steel pipe and high-speed wire rod declined by 0.8 percent, 0.4 percent and 0.3 percent, respectively, week on week.

However, this week sentiment in the local market has improved, which has supported prices.

On January 1, Jiangsu Province-based Shagang Group, China’s largest private steelmaker, raised its offer prices for high-speed wire rod, bar-in-coil and rebar by RMB 150/mt ($23/mt) for the January 1-10 period.

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