The National Development & Reform Commission said that prices of steel products on the Chinese market are unlikely to rise by a great extent in the coming months but should see some modest increases.
The National Development & Reform Commission said that China''s main industrial production material prices will largely keep stable with some rises in September and October 2010.
NDRC said that various measures designed to curb energy intensive industries like steel would have a certain impact on production costs and supplies. It added that but the fundamental problems of overcapacity in the sector would not be affected by the new policies.
It added that coal prices were likely to fall over the September to October 2010 period, while nonferrous metal prices were expected to remain volatile.
NDRC said that prices of non ferrous metals may continue to see large fluctuations domestically and overseas in September and October 2010. Domestic coal prices will likely remain stable with drops for the two months.
According to a NDRC statement, the commission also said it sees small rises in steel products prices while cement prices will likely stay flat.