China's Ministry of Commerce (MOC) announced on March 12 that during last week (March 4-March 10) the average steel price in China decreased by 0.4 percent compared to the previous week. In particular, in the given week prices of 145 mm x 2.5mm hot rolled steel strip, 10 mm steel plate and 12 mm diameter rebar decreased by 0.7 percent, 0.4 percent and 0.5 percent respectively, all week on week.
In the week ending March 10, average prices of minerals in China witnessed a decrease of 1.7 percent week on week. Furthermore, the average prices of zinc ore, iron ore and molybdenum ore declined by 3.4 percent, 1.7 percent and 1.5 percent respectively, all compared to the previous week. Meanwhile, the average prices of copper ore, lead ore and tin ore declined by 1.3 percent, 1.2 percent and 0.4 percent respectively, all week on week.
Meanwhile, in the given week, average prices of energy in China were down 0.8 percent. The average prices of coke, crude oil and raw coal decreased by 2.6 percent, 2 percent and 0.3 percent, all on week-on-week basis.