MONTHLY: China's billet prices to soften further in October

The combination of fading cost-side support and mounting inventory pressure is likely to drive Chinese billet prices further lower in October, according to Mysteel's latest monthly report on the commodity.

Prices of this semi-finished steel product gained some momentum early last month amid strengthening raw material prices. However, subdued downstream demand for the semis in the second half of the month led to renewed inventory accumulation and eroded market confidence, weighing down billet prices accordingly, the report notes. By September