MONTHLY: China's construction steel prices to fluctuate in Feb

Chinese prices of construction steel including rebar and wire rod this month are likely to firm initially before subsequently losing ground, Mysteel predicts in its latest monthly report. The prices are tipped to be volatile, driven by macroeconomic and financial developments in the first half of February, while supply-demand dynamics may influence prices in the latter half of the month, the report notes.

During January, domestic prices of construction steel items saw a slight decline amidst reduced demand due the steel market preparing to celebrate Chinese New Year (CNY), according to the report. As of January 27, the last working day before the CNY break, the country's national price of HRB400E 20mm dia