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According to the data released by MOFCOM, China's steel price declined by 0.4% last week (ended on March 27) compared to prior week owing to the adequate supply in the market. Therefore most of steelmakers had cut their EXW prices, for example the price for rebar with the diameter of 12 millimeters and the high speed wire rod with the diameter of the 6.5 meters had declined by 0.6% and 0.5% respectively. Besides the domestic coking coal price also dropped by 0.7% week over week. As for the future market trends, steel price is anticipated to remain at a stable level in future because lots of projects will be launched during the upcoming warm seasons.