Tag: China weekly: Steel prices rise w-o-w amid production cuts decline in inventories

Chinese steel prices witnessed an uptrend this week amid lower production by mills and falling inventories. However, prices of iron ore, the key steelmaking raw material, fell w-o-w amid weak demand. Steel inventory at key Chinese mills stood at 16.59 mnt in late-July, a m-o-m decrease of 2.43 mnt, or 12.79%, as per China Iron…