On July 2, China's Ministry of Commerce (MOC) announced that during last week (June 24-30) the average steel price in China decreased by 0.4 percent week on week.
In particular, in the given week prices in China of channel bar, 12 mm rebar and 10 mm medium steel plate decreased by 0.5 percent, 0.5 percent and 0.4 percent respectively, all week on week.
In the week ending June 30, average prices of minerals in China were down 0.9 percent compared to the previous week. Furthermore, the average prices of copper, iron ore, lead ore and tin ore declined by 1.6 percent, one percent, one percent and 0.9 percent respectively, all compared to the previous week.
Meanwhile, in the given week, average prices of non-ferrous metals in China were down 0.5 percent week on week. The average prices of nickel and zinc increased by 0.7 percent and 0.4 percent respectively, both on week-on-week basis.