Over the past week, transaction activity became quieter in China's domestic steel plate market due to the lack of improvement in downstream demand. Rising raw materials prices, steelmakers' increased ex-works prices and falling inventory have caused traders to push up their steel plate offer prices. However, many market players are inclined to maintain a wait-and-see stance due to the reduction in transaction volumes and the downtrend in the futures market at the weekend. Accordingly, the uptrend in the market has slowed down in the past week.
Considering cost support and the lack of high inventories, steel plate prices in the Chinese market are unlikely to move down even if demand does not improve. It is thought that the Chinese domestic steel plate market will move sideways in the coming week.