China’s steel prices drop amid weakening demand, more decline expected in Q4

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China's steel prices decline rapidly amid weakening demand and lower material prices and prices are likely to slide further in the fourth quarter, said industry insiders.

"Demand from several steel-consuming industries is sliding. The steel rebar industry slipped from a strong rally into broad losses last month," a steel product salesperson surnamed Wu at a leading Chinese steelmaker told Yuan Talks.

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