MYSTEEL: China's steel prices seen sliding further in September

Chinese steel prices are expected to continue tracking lower in September, reflecting the persistently weak fundamentals in domestic ferrous markets, Mysteel's chief analyst Wang Jianhua predicts in his latest monthly outlook.

Last month, domestic steel prices lost ground overall under the pressure of ample supply, with China's national composite steel spot price standing at Yuan 3,521/tonne ($494/t) including the 13% VAT as of August 29, lower by some 1.5% from the end of July, according to Mysteel's assessment. Despite summer's hot