During the week ending August 4, steel plate prices in the Chinese domestic market have continued to their slight downward movement, while transaction activity has remained at poor levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
During the given week, steel plate prices have moved up first while a downtrend trend has come later due to sluggish demand. The uptrend in steel futures market at the beginning of week has provided a certain support to steel plate prices, while the bearish sentiment prevailed in steel futures market later of the week has dragged down steel plate prices again. In recent period, the demand will hardly see significant improvements, while new supplies arrived at the market have been limited, thus traders will be unwilling to lower prices as their inventory will not be at high levels. It is expected that steel plate prices in the Chinese domestic market will indicate a fluctuating trend within a limited range in the coming week.