China's steel sector oversupply may worsen in the fourth quarter and into next year, said China Iron & Steel Assn (CISA). "We can never be blindly optimistic regarding the steel sector in the fourth quarter, due to consideration that the glut situation may further deepen," said CISA on its website. "As inventories of markets and mills have been rising, domestic steel prices may further slide, company profits will fall, more mills will become loss-making, and the steel industry will face a more difficult business environment in the fourth quarter and early next year," it said.
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