The Myspic index, a complex steel price index compiled by MySteel, recorded 73.86 by Friday, down 1.57 percent from a week earlier.
In the week ending on Friday, construction steel prices dropped 20-100 yuan/tonne in major cities such as Shanghai and Hangzhou, following a short rebound.
Hot-rolled coil prices declined 20-100 yuan/tonne in cities such as Shanghai and Guangzhou, while thick and medium plate prices slid 10-50 yuan/tonne in a week. It is expected the steel prices would lose more in the coming weeks as the slack season arrives.
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