Jincheng city in southern Shanxi province showed a rising trend in its steel products factory price, said the local government citing sampling survey results.
The average ex-work price of steel products in the city rose from 3,383.8 yuan/t in April to 3,467.9 yuan/t in May and 3,505.35 yuan/t in June, respectively marking month-on-month increments of 1.06%, 2.49% and 1.08%, said the local government.
The major reasons behind the price increase are: as the COVID-19 pandemic was under basic control in China, infrastructure and other industries were all back to normal production with the policies stimulus, boosting end-users' demand for steel products.
In the year to May, Jincheng completed 13.29 billion yuan of fixed-asset investment, up 7.9% year on year, accelerating from a 3.3% rise in the first quarter. Of this, the infrastructure investment totaled 4.02 billion yuan with a 5.2% increase; real-estate investment 1.74 billion yuan, up 16.1%.
(Writing by Rebecca Liu Editing by Tammy Yang)
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