MOC: China’s average steel prices fall 0.4 percent week on week
On May 19, China's Ministry of Commerce (MOC) announced that in the week from May 9 to May 15 average domestic steel prices in the country dropped by 0.4 percent week on week, owing to decreased raw material prices and ample steel supply, following two consecutive weeks of price increase. However, as demand from the construction industry in China continues to grow, the average domestic steel price is expected to remain stable in the coming days.