China steel prices edged up slightly during the first week of January 2009 according to the China Weekly Product Price And Price Index.
The price of 6.5mm dia Wire Rod rose by almost 3% to RMB3690/MT while HR Coil was up by 5.68% to RMB4022/MT. Steel Plate showed the slowest rate of increase of the eight products in the index with a rise of 0.49% over the week to RMB4414/MT.
All prices are well down on those of a year ago; 6.5mm Wire Rod was at RMB4518/MT at the end of the first week in January and has fallen by 18.3% since then; HR Coil was at RMB4956/MT and has showed a similar fall, while Plate has fallen almost 21% from RMB5578/MT.
Source: Chinaesteel.com
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