China's Ministry of Commerce (MOC) has announced that during last week (August 24-30) the overall average finished steel prices in China moved up slightly.
In the given week, the average prices of hot rolled steel strip, welded steel pipe, high-speed wire rod and common steel plate edged up by 0.2 percent, 0.2 percent, 0.1 percent and 0.1 percent, respectively, week on week.
On September 1, Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has kept its offer prices for rebar stable, while it has raised its offer prices for high-speed wire rod and bar-in-coil by RMB 50/mt ($7.3/mt), all for the September 1-10 period.