In the given week, there has been an obvious uptrend in the Chinese steel plate market, resulting from insufficient supplies across the country.
According to figures collected from steel mills, in November this year overhauls carried out by domestic steel plate producers are expected to affect a total output of 1.9 million mt, compared to just 1.36 million mt in October. In addition, hikes in steel mills' offer prices have also helped to push up market prices. However, as demand has failed to recover, it appears difficult for domestic steel plate prices to register any big increases in the short term.
It is expected that in the coming week China's steel plate market will continue to rise, increasing by a moderate margin.