China's Ministry of Commerce (MOC) has announced that during last week (August 3-9) the overall average finished steel price in China edged up slightly.
In the given week, the average prices of rebar, high-speed wire rod, steel channel and hot rolled steel strip rose by 0.6 percent, 0.6 percent, 0.4 percent and 0.4 percent, respectively, week on week.
On August 1, Jiangsu Province-based Shagang Group, China’s largest private steelmaker, had raised its offer prices for rebar, high-speed wire rod and bar-in-coil by RMB 50/mt ($7.2/mt) for August 1-10.