During the week ending July 7, steel plate prices in the Chinese domestic market have either indicated slight decreases or moved sideways, while transaction activity has remained at low levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
Demand for steel plate from downstream users has continued to be slack in early July, while market participants are mostly maintaining a wait-and-see stance towards business. Some traders are inclined to sell at lower prices in order to boost business and bring in cash. At the same time, inventory has continued to decline, limiting the downward movement of prices. It is thought that steel plate prices in China are unlikely to see further declines as they are now considered to be at bottom levels. Prices are expected to move sideways in the coming week.