China's Ministry of Commerce (MOC) has announced that during last week (November 2-8) the overall average finished steel price in China moved up.
In the given week, the average prices of rebar, high-speed wire rod, hot rolled coil (HRC) and steel channel edged up by 1.3 percent, 1.1 percent, 0.7 percent and 0.5 percent, respectively, week on week.
On November 11, Jiangsu-based Shagang Group, China’s largest private steelmaker, has raised its offer prices for high-speed wire rod, bar-in-coil and rebar by RMB 300/mt ($45.4/mt). All prices are on ex-works basis.
$1 = RMB 6.607