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

Chinese steel prices are expected to come under further pressure in November from falling raw material costs and the persisting mismatch between steel supply and demand, according to Mysteel's chief analyst Wang Jianhua in his latest monthly outlook.

October saw domestic steel prices move lower, with the country's composite steel price averaging Yuan 3,432/tonne ($515/t) including the 13% VAT, lower by 1.3% from the average price in September, according to Mysteel's assessment. Looking to November, the most immediate pressure comes from raw materials, Wang pointed out. With the