In the given week, the Chinese domestic steel plate market has continued to be characterized by insufficient supply, which has encouraged traders to increase their steel plate prices. In particular, traders' offers of steel plates of certain specifications with extremely low availability can be RMB 50-100/mt ($7-15/mt) higher compared with other specifications of the same grade material. However, despite some discounts provided by traders, market activity has remained low due to the limited supply availability. Meanwhile, traders' steel plate purchase costs for future arrivals will be higher due to the slightly increased steel plate prices of Chinese mills. Furthermore, China's overall steel plate output is currently at somewhat lower levels than usual, and outputs of some mills may indicate further declines in December due to capital repair works.
It is thought that the Chinese steel plate market may indicate a further uptrend in the coming week.