MYSTEEL: China's steel prices to keep falling in June

Chinese steel prices will likely continue heading south this month, predicts Mysteel's chief analyst Wang Jianhua in his latest monthly outlook, blaming the further deterioration of market fundamentals and the continuing absence of government policies that might support the industry.

Weak sentiment among market players led domestic steel prices to track downward in May under the pressure of excess supply. On May 30, Mysteel assessed the country's national steel price at Yuan 3,387/tonne ($470.5/t) including the 13% VAT, down by 2.8% from the end of April. Mysteel's survey showed that