According to the monitoring data from the Ministry of Commerce of the People’s Republic of China (MOFCOM), the price index in the capital goods markets fell by 0.7% in July compared to the previous month, but up by 10.2% from the same month a year ago.
Among them, the prices of steel kept rising with a month-on-month increase of 0.6%, of which the price of high-speed wire rod, rebar, plain round steel and hot-rolled strip was up by 1%, 0.8%, 0.6% and 0.5% respectively, showing a year-on-year hike of 12.6%.
In addition, the price of non-ferrous metal dropped by 4.6% compared to last month, of which the price of zinc, copper and nickel decreased month on month by 8.6%, 5.1% and 3.5% respectively, and that of lead, aluminum and tin fell month-on-month by 3.1%, 2.7% and 2% respectively, with a year-on-year increase of 2.6%.
