MOC: Average longs price in China softens last week, rises this week

China's Ministry of Commerce (MOC) has announced that during last week (March 30- April 5) the overall average finished steel price in China edged down slightly on week-onweek basis. In the given week, the average prices of rebar, high-speed wire rod, steel channel and hot rolled steel strip edged down by 0.9 percent, 0.8 percent, 0.8 percent and 0.7 percent, respectively, week on week. Chinese major steelmaker Ma’anshan Iron and Steel has raised its offer prices for rebar, high-speed wire rod and bar-in-coil by RMB 20/mt on April 9, raising its prices again by RMB 20/mt on April 10, signaling its optimistic view of the future prospects for the steel market.