In the past week, the Chinese steel plate market has continued to move in an upward direction. Average prices in the Chinese steel plate market can be viewed in the SteelOrbis price reports section.
Chinese producers have pushed up their steel plate prices against a backdrop of limited arrivals of plate supplies in the market, increased transaction activity and traders' declining inventories. Many steel mills have increased their plate prices by RMB 20-200/mt ($3-31/mt).
As for inventory, on March 16 aggregate inventory in the Chinese steel plate market totaled 1,527,100 mt, down 21,900 mt week on week, marking the fifth consecutive week-on-week drop.
Summing up, it is expected that the Chinese steel plate market will maintain a slight uptrend in the coming week, also supported by improving weather conditions.