The prices of 6.5mm general steel wire and 16mm threaded steel rose by 220 yuan and 251 yuan per ton month-on-month to 4,560 yuan and 4,552 yuan per ton as of end November, according to data from the China Iron and Steel Industry Association (CISA).
The price of 0.5mm cold-rolled thin steel plates increased by 72 yuan per ton month-on-month to 5,705 yuan as of end November while the price of 0.5mm hot-rolled thin plates increased by 25 yuan per ton month-on-month to 4,982 yuan.
November imports of iron ore increased 12.4 percent year-on-year and 25.5 percent month-on-month to 57.38 million tons.
The average import price of iron ore dropped by $2.5 per ton to $145 per ton in November. Iron ore imports dropped 0.9 percent year-on-year to 560 million tons in the first 11 months.
According to CISA's data, steel inventory in major cities dropped nine percent month-on-month to 13.06 million tons as of end November.
Inventory of threaded steel in major cities fell 16.8 percent month-on-month to 4.21 million tons as of end November while steel wire inventory decreased 22.6 percent month-on-month to 980,000 tons.
Inventory of cold-rolled steel plates increased 1.8 percent month-on-month to 1.47 million tons in November.
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