China’s Ministry of Commerce (MOC) has announced that during last week (September 10-16) average steel prices in China increased by 0.5 percent compared to the previous week, indicating the first week-on-week increase in five months.
In particular, in the given week prices of 10 mm plate, 6.5 mm diameter high-speed wire rod and 1 mm cold rolled sheet increased by 0.9 percent, 0.6 percent and 0.6 percent week on week, respectively.
In the week ending September 16, average prices of minerals in China witnessed an increase of 2.1 percent week on week. The average price of iron ore, copper ore and zinc ore in China increased by 2.2 percent, three percent and 2.3 percent respectively in the week in question, all on week-on-week basis.