MONTHLY: China's construction steel prices to fluctuate in narrow band in December

Chinese prices of construction steel including rebar and wire rod are likely to be rangebound in a narrow range during December, with the supply-demand pressure easing moderately, Mysteel predicts in its latest monthly report. The likelihood is that the construction steel market will feature low output, low inventories and sluggish demand this month, it suggested.

During November, domestic prices of construction steel items trended downwards as the impact of macroeconomic news on the market eased and demand in northern China gradually entered a seasonal lull, according to the report. As of November 29, China's national price of HRB400E 20mm dia rebar, a pointer to domestic