MOC: Average steel prices in China edge up last week

MOC: Average steel prices in China edge up last week

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China’s Ministry of Commerce (MOC) has announced that during last week (August 3-9) the overall average finished steel price in China edged up slightly.

In the given week, the average prices of rebar, high-speed wire rod, steel channel and hot rolled steel strip rose by 0.6 percent, 0.6 percent, 0.4 percent and 0.4 percent, respectively, week on week.

On August 1, Jiangsu Province-based Shagang Group, China’s largest private steelmaker, had raised its offer prices for rebar, high-speed wire rod and bar-in-coil by RMB 50/mt ($7.2/mt) for August 1-10.

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