China's Ministry of Commerce (MOC) has announced that during last week (January 28-February 3) the average steel price in China increased by 0.2 percent compared to the previous week.
In particular, in the given week prices of 6.5 mm diameter high-speed wire rod, 10 mm steel plate and 12 mm diameter rebar increased by 0.3 percent, 0.3 percent and 0.2 percent respectively, all week on week.
In the week ending February 3, average prices of minerals in China witnessed an increase of 1.6 percent week on week. Furthermore, the average prices of iron ore, tungsten ore and copper ore increased by 1.8 percent, 1.8 percent and 1.1 percent respectively, while the price of molybdenum ore was down 0.6 percent, all compared to the previous week.
Meanwhile, in the given week, average prices of energy in China were up 0.3 percent, while the price of crude oil was up 4.1 percent week on week, with its aggregate increase in the past four weeks amounting to 10 percent.