On May 27, China's Ministry of Commerce (MOC) announced that during last week (May 20-26) the average steel price in China decreased by 0.4 percent week on week, declining at the same rate as recorded in the previous week.
In particular, in the given week prices of 12 mm diameter rebar, 10 mm steel plate and 3 mm hot rolled steel sheet decreased by 0.5 percent, 0.4 percent and 0.5 percent respectively, all week on week.
In the week ending May 26, average prices of minerals in China decreased by 1.6 percent, including a decrease of 1.9 percent in iron ore prices, both compared to the previous week. Furthermore, the average prices of copper ore, zinc ore, A00 aluminum, lead ore and nickel ore increased by 1.3 percent, 0.7 percent, 0.6 percent, 0.2 percent and 0.1 percent, meanwhile, the price of tin ore remained stable, all compared to the previous week.
In the given week, average prices of energy in China were down 0.2 percent week on week, the average prices of raw coal decreased by 0.3 percent, the average price of metallurgical coke remained unchanged, while a 0.1 percent decline was observed in the price of crude oil, all on week-on-week basis.