The downward trend of China's steel prices gradually entered a period of leveling off last week (Oct.24~31), according to a recent research by Mysteel, an accounting agency for steelworks.
The research also showed specific steel price drop or rise for different areas. For example, prices in eastern China rose in a narrow range, 60~80 yuan/ton on average, while prices in northeastern China or China North declined by 80~100 yuan/ton averagely.
In addition, 14 deformed bar producers and 10 wire rod plants adjusted their ex-factory prices, among which nine and seven increased respectively.
Mysteel also forecast that China's building steel prices would continue the downward trend.