In the past week the Chinese plate market has witnessed an obvious slackening of end-user demand following previous strong purchasing activity. Meanwhile, price cuts by some traders have also contributed to the slide of prices in the domestic market, while the softening of semi-finished steel prices has also influenced the steel plate price trend. On the other hand, the decline of plate inventory in China has failed to provide much support for market prices.
In early October, crude steel output in China increased as compared to late September, as announced by the China Iron and Steel Association (CISA), and this increase in supply may eventually impact the domestic steel plate market.
It is thought that the steel plate market in China will continue to indicate a soft trend in the coming week.