In the given week, steel plate prices in most cities of China rose, but at a slower rate as compared to the previous week. Observers state that the increase was mainly due to mills' price hikes and the ongoing decreases in inventory levels. However, due to sluggish market activity, there appears to be limited room for upward price movement.
As of March 31, total inventory of medium plate in the main Chinese markets declined for a seventh consecutive week to 1.51 million mt, down 6,000 mt compared to March 23.
In conclusion, while traders are maintaining a waiting strategy for now, the domestic steel plate market is expected to continue its upward trend this week.