During the week ending August 18, steel plate prices in the Chinese domestic market have continued to follow a slight downtrend, while transaction activity has remained poor. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
During the given week, amid the ongoing declines in the steel futures market and the softness of raw materials prices, steel plate traders in China have been inclined to lower their sales prices, though the decreases in their prices have not sparked any improvement in transaction activity. Although demand has not improved, production costs and relatively low inventory levels in the spot market are expected to provide a certain degree of support for steel plate prices and to limit the room for downward movement of prices in the coming period. It is thought that steel plate prices in the Chinese domestic market will continue to indicate a slight downtrend in the coming week.