As of April 8, steel plate prices in the Chinese domestic market indicate slight decreases as compared to one week ago. Average steel plate prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Against the background of the declining trend in the steel futures market at the start of last week, traders became more pessimistic and their steel plate offer prices started to decline, while at the same time the purchasing activity of downstream users remained quiet. Subsequently, on April 3 the steel futures market indicated a rebound, which started to have a positive impact on steel plates offer prices. At present, market inventory of steel plate in China has continued to decline, with domestic inventory of plate amounting to 1.6381 million mt on April 5, down 18,900 mt week on week, indicating decreasing pressure on traders from their stock levels. Meanwhile, limited supplies have been arriving in the market over the past week. Since demand from downstream users has not improved, traders mainly have a cautious attitude on the prospects for the future market and are unwilling to sell at lower prices due to the high costs of materials in hand. It is thought that steel plate prices in China will indicate only minor fluctuations in the coming week.