During the week ending July 22, steel plate prices in the Chinese domestic market have continued to rise despite slow activity. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
Stimulated by the uptrend seen in the steel futures market, local rebar and hot rolled coil (HRC) prices in China have continued to climb up, in turn boosting the confidence of traders of steel plate products. At present, medium plate inventory in the Chinese domestic market is on the low side, with certain specifications in short supply. Chinese steel plate producers have for the most part raised their list prices. However, the situation is not so encouraging in terms of market activity, with demand on the slow side.
On the whole, Chinese domestic steel plate prices are expected to follow a slight uptrend in the near term with the support of production costs and low supply.