In the week ending November 17, steel plate prices in the Chinese domestic market have moved on a fluctuating trend, with both slight rises and declines being seen, 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, the Asia-Pacific Economic Cooperation (APEC) meeting held in Beijing negatively affected production activity in northern China, while it also caused demand from downstream users to remain slack. After the APEC meeting, many steelmakers in Hebei Province have now resumed production, though it will take time for them to reach their previous output levels. Meanwhile, the cold weather in northern China will limit demand in the region for steel plates and cause steel plate supplies to be directed from the north to southern China. It is thought that steel plate prices in the Chinese domestic market are unlikely to see significant declines in the coming week as some traders need to replenish their inventories.