Ministry of Commerce of the People's Republic of China on the 9th Business Forecast: Last week (November 1 to 7) steel prices rose 1.1%. The output of construction steel and other varieties declined, and the growth of market supply slowed down. The price of steel fell slightly after falling for two weeks. The price of construction steel increased significantly. The growth rate of Φ6.5mm high-speed wire rod and Φ12mm rebar reached 2.2% and 2.0% respectively.
According to the business forecast, the China Iron and Steel Association reported that the impact of energy-saving emission reductions, the national crude steel production in mid-October reached 1.563 million tons, down 3.9% from the previous month. The cost of metallurgical raw materials increased. In October, domestic iron ore and bituminous coal prices rose by 7.4% and 2.3% respectively in September. It is expected that the price of steel may increase slightly in the later period.
According to the business forecast, the China Iron and Steel Association reported that the impact of energy-saving emission reductions, the national crude steel production in mid-October reached 1.563 million tons, down 3.9% from the previous month. The cost of metallurgical raw materials increased. In October, domestic iron ore and bituminous coal prices rose by 7.4% and 2.3% respectively in September. It is expected that the price of steel may increase slightly in the later period.
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