MYSTEEL: Chinese steel prices seen rebounding in March

After sliding steadily during last month, Chinese steel prices are expected to rebound in March, driven by firming cost support amid turbulent international geopolitics, as well as the improved domestic fundamentals for steel, Mysteel's chief analyst Wang Jianhua predicts in his latest monthly outlook.

During February 1-28, China's national composite steel price averaged Yuan 3,411/tonne ($497.4/t) including the 13% VAT, lower by 0.9% from the average price during January, according to Mysteel's assessment. The price weakened last month as the domestic steel market quietened around the Chinese New Year holiday (CNY) over February