During the week ending June 17, steel plate prices in the Chinese domestic market have trended down slightly. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
Affected by last week's Dragon Boat Festival holiday in China, downstream industries have not yet fully resumed operations and purchasing activities. Against the background of the weak performance seen in the domestic stock and futures markets, traders are worried about the future prospects for the local steel plate market. Meanwhile, amid high inventory levels, traders are now more willing to offer discounts as they seek to attract orders.
In general, steel plate prices in the Chinese domestic market are not expected to improve in the near term. With new arrivals of supplies in the market, the pressure on traders has increased. In the coming week, the local Chinese steel plate market is expected to continue to drop down.