Chinese steel plate market trends up slightly

Buoyed by rebounds observed in the domestic stock and futures markets, the confidence of players in the Chinese steel plate market has received a boost. While declines have continued to be seen in market inventories of steel plate, traders now appear to be less willing to compromise in negotiations. However, as the weather gets colder, transaction activity in the Chinese plate market is not expected to improve. The lack of significant new arrivals and reduced inventories are expected to provide some support for local plate prices in China. As for coming week, it is expected that steel plate prices in the Chinese domestic market will trend sideways.