On July 9, China's Ministry of Commerce (MOC) announced that during last week (July 1-7) the average steel price in China increased by 0.4 percent week on week. In particular, prices of 145 mm x 2.5 mm hot rolled strip, 12 mm rebar and 6.5 mm high-speed wire rod rose by 0.7 percent, 0.6 percent and 0.5 percent respectively, all week on week.
In the week ending July 7, average prices of minerals in China were up 1.8 percent compared to the previous week. Furthermore, the average prices of iron ore, zinc ore and copper ore increased by two percent, one percent and 0.9 percent respectively, all compared to the previous week.
In addition, average prices of energy in China in the given week witnessed a 0.6 percent decrease, with 1.1 percent and 0.5 percent declines in prices of raw coal and crude oil respectively, though the price of coke remained stable, all week on week.
Meanwhile, in the given week, average prices of non-ferrous metals in China were up 1.1 percent week on week. The average prices of copper, zinc and tin increased by 2.9 percent, one percent and 0.7 percent respectively, week on week. Moreover, the prices of A00 aluminum and nickel both rose by 0.2 percent, while the price of lead remained stable, all week on week.