The outlook for China's steel market fell to its lowest level this year in December, with expectations for new orders deteriorating slightly compared with November, according to the latest S&P Global Platts China Steel Sentiment Index, or CSSI. The December CSSI showed a headline reading of just 7.57 out of 100 points, down from 8.93 in November. This took the average for the year to just 20.84, compared with 39.27 in 2018. The outlook for steel prices rose by 4.79 points from November to 23.21 in December. A reading above 50 indicates expectations of an increase/expansion and a reading below 50 indicates a decrease/contraction. The CSSI is based on a survey of around 50 Chinabased traders and steel mills.
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