NDRC: China's steel market to weaken further in February

China's steel market is expected to continue weakening this month, with thin trading and prices trending softer due to the absence of positive catalysts. This is according to the most recent survey of the steel sector's health conducted by the National Development and Reform Commission (NDRC), which covered major wholesale steel markets in South China, Shanghai and Tianjin.

The survey showed downbeat sentiment across key indices. The Sales Price Expectation Index for China's wholesale steel market had edged down 0.08 percentage points from January to 36.86%, indicating subdued market sentiment. The Purchase Price Expectation Index, despite an increase of 3.74 percentage points from last month, remained in