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Domestic steel prices in China continued to increase
It is reported that domestic steel prices in twenty two cities in
Among the four major steel products, reinforced steel price registered at the highest level of increase at 22.8% YoY or 1.3% Wow in a week of August 6th to August 12th to reach at 3,853 Yuan per tonne. Steel wire price jumped by 1.1% WoW, or 16.6% YoY to stay at 3,761 Yuan per tonne. Medium plate price rose to 4,377 Yuan per tonne, a significant increase of 20.7% compared to the same period last year but a slight surge of 0.9% when compared to the previous week. Price of cold rolled sheet was reported to have climbed up marginally at 0.2% from the previous week to stay at 4,826 Yuan per tonne, but the price is slightly lower than that in the same period of last year. At the same time, the average price of domestic grade 66% iron ore concentrate reached 950 Yuan per tonne, up by 58.5% YoY.