During the week ending September 22, steel
plate prices in the Chinese domestic market have continued to indicate a downtrend, while transaction activity has remained at low levels.
At the beginning of the given week, the steel futures market in
China indicated a slight recovery, with market sentiment becoming more bullish, while steel plates traders in
China remained very cautious on the future prospects for their domestic market. Just a few traders tried to increase their offer prices, with most of them maintaining a wait-and-see stance. However, in the middle of the week, since the steel futures market started to decline again and as demand from downstream users did not indicate any significant improvements, traders became more willing to lower their prices in order to boost their sales. Currently, due to the ongoing slackness of demand and the approach of
China's National Day Holiday at the start of October, it is expected that steel plates prices in the Chinese domestic market will continue their downward movement in the coming week.