During the week ending July 28, steel plate prices in the Chinese domestic market have continued to follow a slight downtrend, while transaction activity has remained weak. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
Domestic demand for steel plates has remained slack due to the hot summer weather and has failed to show any significant improvement. However, in eastern China, arrivals of new supplies in the market have been insufficient. Accordingly, some medium plate specifications have been in short supply in the region, and this has provided support for the stability of local prices. Overall, inventory in the steel plate spot market in China is on the low side, while steel plates prices are considered to be close to bottom levels and so declines in prices will be limited in the coming period. It is expected that steel plate prices in the Chinese domestic market will fluctuate within a limited range in the week ahead.