BEIJING, May 13 (Xinhua) -- The composite index of China's domestic spot steel price closed at 149.77 points in the first trading week after May Day holiday, down 0.41 percent from the previous week, according to the market report released by Mysteel, a data and analysis provider on Chinese iron and steel industry.
Among them, the average price per ton of mainstream rebar varieties, hot rolled products and general steel plates in major markets across the country reached 4,277 yuan, 4,058 yuan and 4,130 yuan respectively, 20 yuan, 16 yuan and 11 yuan lower from the week before May Day holiday.
Meanwhile, the iron ore market rebounded in volatility. The price of domestic iron ore increased slightly, while the price of imported iron ore with a 62-percent purity grade increased 0.55 U.S. dollar to 95.15 U.S. dollars in May 9, showed the report released by Xiben New Line Stock Co., Ltd., a commodity e-commerce platform.
At present, due to the pressure faced by supply side, the steel price is likely to fall down but unlikely to encounter a sharp decline, according to the analysis by related organizations in the industry. (Edited by Tong Wei, firstname.lastname@example.org)