DAILY: China's steel prices retreat to month lows

China's steel market slipped broadly to month lows on November 2, as expectations of a further shrinkage of steel demand in off-season and softening cost-side support dampened market sentiment and dragged down prices.

The national price of HRB400E 20mm dia rebar was assessed by Mysteel at Yuan 3,294/tonne ($495/t) on Monday, down by Yuan 11/t on day and touching a two-month low. The same day, the national price of Q235B 4.75mm HRC Mysteel assessed also declined further by Yuan 12/t to a one-month trough of Yuan 3,208/t. Major ferrous commodities lost