On August 13, China's Ministry of Commerce (MOC) announced that during last week (August 12-18) the average steel price in China rose by 0.3 percent compared to the previous week.
In particular, in the given week average prices in China of welded steel tube, 80 mm x 43 mm x 5 mm channel steel and 145 mm x 20 mm hot rolled steel strip increased by 0.5 percent, 0.5 percent and 0.4 percent respectively week on week.
In the week ending August 18, average prices of minerals in China were up 3.5 percent compared to the previous week. Furthermore, the average prices of iron ore, lead ore, zinc ore and copper ore were up four percent, 2.5 percent, 2.5 percent and 0.5 percent respectively, all compared to the previous week.
Meanwhile, in the given week, average prices of energy in China were down 0.5 percent week on week. The average price of raw coal declined by 1.4 percent, while the average prices of metallurgical coke and crude oil were up by 1.5 percent and 0.1 percent, both week on week.