Steel prices in China fell 0.8 percent week on week in September 7-13, due to weak demand, said the Ministry of Commerce (MOC) on Tuesday. In a breakdown, prices of ordinary middle plate and welded steel tube each were down 1 percent week on week.
Data of the China Iron and Steel Association (CISA) showed that daily crude steel output of key steelmakers in China amounted to 1,644, 600 metric tons (tonnes) in August 21-31. Meanwhile, Mysteel, a steel information provider in China, predicted that the country's daily crude steel output would increase obviously to 2,069,800 tonnes in September 1-10. Steel prices in China are expected to perform weakly in September 14-20. Given the increasing iron ore prices, fall in steel prices will be limited, said analysts.
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