Chinese steel prices in downward spiral as fear sparks sales

Sep 24, 2009 | 09:38 AM |

China's steel price slide is gaining momentum as pessimism has thickened, market sources said.

Many players are furiously selling down inventory for fear of fetching even lower prices if they hesitate, with some even afraid the market will collapse before the week-long festivities for the National Day holiday starting Oct. 1, they said.....

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