During the week ending November 28, medium plate prices in the Chinese domestic market have continued to trend down.
Steel plate prices in China can be viewed in the SteelOrbis price reports section.
Steel plate prices in the Chinese domestic market saw a slight decrease in the given week, amid scarce transactions and negative expectations for the future. Traders state that activity in the market has not improved despite the lower prices available. Many traders continue to maintain a wait-and-see stance rather than purchase from the mills.
Volumes of medium plate arrivals are on the whole at normal levels, while some distributors report higher inventories due to the lack of transactions. In addition, considering pressure from shortages of funds, some traders may sell at even lower prices in the last days of November.
Overall, there are few positive factors in China's steel plate market, and so a soft trend is also expected to be seen in the week ahead.