During the week ending February 4, steel plate prices in the Chinese domestic market have seen an overall upward trend, while transaction activity has remained quiet. Average steel plate prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Traders have been raising their steel plate offer prices due to rising semi-finished steel product prices and steelmakers' upward price adjustments. Meanwhile, activity in terms of transactions has been fairly quiet as demand from downstream users has shrunk significantly.
Starting from the weekend, some traders have exited the market, while those still lingering in the market are unwilling to sell as most of them are looking forward to a bullish market after the Spring Festival/Chinese New Year holiday (February 9-17). The increased offer prices are in particular aimed at the post-holiday market. It is expected that the Chinese domestic steel plate market will remain stable in the coming week.