MYSTEEL: China's construction steel prices to fluctuate in June

Chinese prices of construction steel including rebar and wire rod are likely to lose ground at the beginning of June before showing signs of a rebound later, with the imbalance between demand and supply improving, Mysteel predicts in its latest monthly report.

During May, domestic prices of construction steel items had trended upwards initially before subsequently retreating as market optimism ebbed away with the pace of the decline in steel stocks slowing rapidly towards the end of last month, the report noted. The faster-than-expected fall in demand was blamed. As of May