During the week ending September 1, steel plate prices in the Chinese domestic market have continued to follow a downward movement, while transaction activity has remained at low levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
During the given week, with steel futures prices and raw material prices continuing to move down, bearish sentiment has prevailed in the domestic steel plate market. Meanwhile, traders have been under pressure from tightness of funds and have been willing to sell at lower prices in order to stimulate sales and bring in cash. However, price cuts have not sparked any significant improvement in demand, which has remained sluggish. In the short run, no great changes are likely to be seen in the supply and demand situation. It is expected that steel plates price in the Chinese domestic market will continue to move on a soft trend in the coming week.