During the week ending October 15, steel plate prices in the Chinese market have shifted from an uptrend to a downtrend, though some steel plate prices are still higher than they were one week ago. Average steel plate and shipbuilding plate prices in China can be viewed in the SteelOrbis price reports section.
Following the National Day holiday (October 1-7), steel plate prices in the Chinese market had moved on an upward trend until last Thursday (October 11). Traders' confidence had improved, while major domestic steel manufacturers raised their offer prices. However, since last Thursday, market prices have dropped down due to insufficient downstream demand.
With the profit margins of steel mills having improved lately, there is a greater chance that they will increase their capacity utilization in the future. It is expected that the steel plate market in China will follow a soft trend in the coming week.