Decent transaction activity in Chinese domestic steel plate market

During the week ending March 14, steel plate prices in the Chinese domestic market have mostly softened except for prices of shipbuilding plate which have increased, while transaction activity in the overall market has been at decent levels. Average steel plate prices in China are presented in the tables below. 

During the given week, following previous sharp rises in steel plate prices, some traders have chosen to lower their sales prices in order to bring in funds. Meanwhile, inventory levels in the steel plate market have declined compared to the previous week. However, new supplies will likely arrive in the market and push up inventory levels in the coming period, which will exert a negative impact on steel plate prices. At the same time, following the sharp and rapid price rises already seen in the market, further increases are unlikely to be observed. It is thought that steel plate prices in the Chinese domestic market will likely move sideways or indicate a slight downtrend in the coming week. 

17 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.50