Poor sentiment still prevails in Chinese domestic steel plate market

During the week ending November 23, steel plate prices in the Chinese domestic market have mostly indicated a declining trend, though with prices moving on a rising trend in the local Lecong market. Transaction activity in the overall market is still on the slack side. Average steel plate prices in China are presented in the tables below. 

During the given week, steel plate prices in Shanghai and Tianjin have moved on a downward trend as the ongoing rainy weather in Shanghai and the snowy weather in Tianjin have resulted in slack activities. However, since only a relatively small volume of supplies has flowed from northern China to the south, there has been a shortage of steel plate supply in Lecong, resulting in a rising trend there. It is thought that steel plate prices in the Chinese domestic market will likely indicate a slight downtrend in the coming week as bearish sentiment still prevails in China. Steel plate prices are already considered to be at relatively low levels and so decrease margins will be small. 

 

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.40