MYSTEEL: China's steel prices to strengthen on demand in March

China's steel market is expected to gain upward momentum from the consumption recovery among steel end-users this month, though the price performance may vary among different product types, Mysteel's Chief analyst Wang Jianhua predicted in his latest monthly market outlook.

China's steel prices faced downward pressure during February due to the widespread bearish sentiment among market players, but this month the market will be driven by healthier fundamentals, Wang noted. On February 28, the country's composite steel price was assessed by Mysteel at Yuan 3,591/tonne ($493/t) including the 13% VAT,