In the context of price adjustments made by domestic steel plate producers in early June as well as weak end-user demand, market prices of steel plate products in China have continued to drop down. However, thanks to positive steps taken by the Chinese government, confidence among traders has improved to some extent.
Plate inventories in the Chinese market have been on the rise for four consecutive weeks. Market players still think that plate prices will continue to trend down amid high inventories, arrivals of low-cost new supplies and the low-price policy maintained by some traders.