China’s Ministry of Commerce (MOC) has announced that during last week (October 8-14) average steel prices in China indicated an increase of 1.1 percent compared to the previous week due to steel demand growth stimulated by an increase in new infrastructure projects and by the upward price trend of raw materials such as iron ore.
In particular, in the given week prices of 10 mm plate, 1 mm cold rolled sheet and 12 mm diameter rebar increased by 1.5 percent, 1.5 percent and 1.4 percent week on week, respectively.
In the week ending October 14, average prices of minerals in China witnessed an increase of six percent week on week. The average price of iron ore, tungsten ore and tin ore in China increased by 7.1 percent, 1.4 percent and 0.9 percent respectively in the week in question, all on week-on-week basis.
Meanwhile, in the given week, the average price of raw coal in China increased by 2.9 percent compared to previous week.