During the week ending July 16, prices in the Chinese domestic steel plate market have continued to soften. Average plate prices in the Chinese market can be viewed in the SteelOrbis price reports section.
Lacking optimism as regards the prospects for the future market, some traders have started to offer discounts, resulting in a further decreases in domestic steel plate market prices. During the past week, most steel mills have announced reductions in their list prices for steel plate products, and this has also been one of main reasons for the further declines in market prices.
A pessimistic mood now prevails in the domestic steel plate market. It is expected that the steel plate market in China will maintain its downtrend in the coming week.