Chinese domestic steel plate market softens further

At present, no significant improvement has been seen in demand for steel plates from downstream sectors in China. Meanwhile, domestic traders are concerned with the slow flow of inventories. Lower ex-mill prices and slack market activity have contributed to the slight decline in market prices. Considering their already low profit margins, traders are unwilling to cut their prices further. Nevertheless, it is expected that domestic steel plate prices will continue to soften over the coming week.