In the week before the May Day holiday, traders in the Chinese steel plate market have had different expectations for the future market trend. Some traders have been eager to sell off their inventories, contributing to the downtrend of market prices. However, other traders are more optimistic on the prospects for the market trend and are not so inclined to sell their stocks for now.
At present, market inventories and new arrivals in the domestic steel plate market are not at high levels. Meanwhile, offers from mills have mostly remained unchanged or have indicated some slight increases. These factors may help prevent further downward movement of prices. It is thought that steel plate prices in China will likely trend sideways in the coming week.