During the week ending September 15, steel plate prices in the Chinese domestic market have continued to indicate downward movement, declining by a larger margin compared to the previous week, while transaction activity has remained at poor levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
At the beginning of the given week, due to the continuous declines seen in the steel futures and raw materials markets in China, bearish sentiment prevailed in the domestic steel plate market and traders mostly lowered their sales prices. However, downstream users have remained unwilling to conclude purchases despite the price cuts. By the end of the past week, with improvements seen in the steel futures and raw materials markets, the declining movement of domestic steel plate prices has slowed down. Currently, demand from downstream industries still remains sluggish, while traders will likely reduce their sales prices further. It is expected that steel plate prices in the Chinese domestic market will continue their downtrend in the coming week.