MYSTEEL: China's steel prices may rebound marginally in July

The slide in Chinese steel prices that has continued for two months could end this month and see prices rebound mildly, Mysteel's chief analyst Wang Jianhua suggests in his latest monthly outlook. Wang cites the potential for a rise in the production costs being borne by steelmakers increases they will pass to customers together with the relatively positive market prospects.

The country's steel prices headed south in June amid bearish market sentiment, but the pace of the decline has slowed, with Mysteel assessing the national composite spot price averaging Yuan 3,346/tonne ($467/t) including the 13% VAT over the month, lower by just 0.5% from the previous month. In fact, by