MYSTEEL: China construction steel prices to see upturn in May

Prices of construction steel products across China may see signs of stabilizing or even achieve a rebound this month, in anticipation of domestic steelmakers' output cuts which may last for several weeks in a row, Mysteel predicted in its latest monthly report.

In April, core construction steel products such as rebar witnessed a steep slide in prices as useful demand from end-users declined from March while production costs dropped with tumbling raw material prices, according to the report. The spot trading of construction steel comprising rebar, wire rod and bar-in-coil among 237