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The nationwide price of steel products rose slightly last week (November 14-20)

The nationwide price of steel products rose slightly last week (November 14-20)

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021.

Iron ore’s most-traded January 2023 contract on China’s Dalian Commodity Exchange tumbled as much as 4.4% to 683.50 yuan ($100.87) a tonne, its lowest since July 28.

Of the 50 major goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer, and some agricultural products mainly used for processing.

Offers were heard in a wide range between $1,150-1,300/st, with most in the $1,200/st range.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions.