As of November 10, steel plate prices in the Chinese domestic market have moved on a slight downtrend, while transaction activity has remained at low levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
During the given week, demand for steel plate from downstream users has been sluggish, while traders have been reluctant to conclude deals which are not on cash payment basis. In eastern China, some steel plate producers have cut their ex-works prices, resulting in lower prices in Wuxi and Jiangyin in Jiangsu Province. However, steel plate prices in northern China have been higher than in eastern China as steel plate producers in the north have been required to suspend production due to the Asia-Pacific Economic Cooperation (APEC) meeting. At the same time, inventory levels in the overall spot market are on the low side, providing a certain degree of support for steel plate prices. It is expected that steel plate prices in the Chinese domestic market will continue their slight downtrend in the coming week.