Positive sentiment in local Chinese steel plate market despite low demand

Monday, 14 April 2014 16:07:57 (GMT+3)   |   Shanghai
       

 

During the week ending April 14, steel plate prices in the Chinese domestic market have continued their rising trend, with larger increases observed compared to the previous week. Meanwhile, transaction activity has remained at low levels, with no significant improvement in demand. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.

During the given week, plate prices in the Chinese domestic market have indicated an overall increase, with the largest rises seen in northern China. The uptrend in the past week has been based on positive sentiment among market players rather than on actual demand levels. Some steelmakers have increased their ex-works prices, with Tianjin Iron and Steel Group and Masteel raising their plates prices by RMB 32/mt ($5/mt) and RMB 30/mt ($5/mt) respectively. In the meantime, inventory pressure has eased, while the production capacity utilization rates of steel plate producers in China remain at relatively low levels. For the coming week, it is thought that domestic steel plate prices in China will rise further, though at a slower rate.


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