MYSTEEL: China's steel prices set to strengthen in December

Chinese steel prices are expected to move upward overall this month, driven by the improved macroeconomic environment as well as the recovery in market fundamentals, Mysteel's chief analyst Wang Jianhua argues in his latest monthly outlook.

China's national composite steel price ended November with a slight on-month decline at Yuan 3,453/tonne ($488/t) including 13% VAT, lower by 0.1% from the end of October, according to Mysteel's assessment. Subdued demand from steel end-users placed major downward pressure on domestic steel prices early last month. However, moves by