China's Ministry of Commerce (MOC) has announced that during last week (June 22-28) the overall average finished steel price in China moved on a fluctuating trend.
In the given week, the average prices of both high-speed wire rod and rebar moved down by 0.1 percent, while the average prices of steel plate and steel channels edged up by 0.2 percent and 0.1 percent, respectively, week on week.
On July 1, Jiangsu Province-based Shagang Group, China’s largest private steelmaker announced unchanged offer prices for rebar, high-speed wire rod and bar-in-coil for the July 1-10 period, signaling its cautious view of the future prospects for the market amid the continuing rainy weather and floods in China.
$1 = RMB 7.071
