During the week ending June 30, steel plate prices in the Chinese domestic market have continued their downward movement, indicating slight declines, while transaction activity has remained slack. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
During the given week, due to ongoing offseason amid rainy weather conditions, traders mostly hold a pessimistic view of the future prospects for the market. Inventories have been increasing in some regions and so local traders have been choosing to sell at lower prices in order to bring in funds. However, downstream users have been reluctant to make purchases. It is expected that steel plate prices in the Chinese domestic market will continue to indicate a slight downtrend as the supply-demand situation is not expected to show any significant improvement.