Downstream demand still slow in local Chinese steel plate market

During the week ending December 16, steel plate prices in the Chinese domestic market have moved on an upward trend. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
 
On the one hand, against a background of shortage of market supply and power supply restrictions which negatively impact production levels, China's domestic steel plate prices have indicated a minor increase in the past week, while most producers have increased their prices, including major domestic mills Baosteel and Wuhan Iron and Steel Co. (WISCO) which have raised their plate prices for January deliveries by $8/mt and$16/mt respectively. On the other hand, transaction volumes, especially purchases by downstream customers, remain low. As regards the coming week, it is thought that local Chinese steel plate prices will probably remain on their uptrend, though with a slower increase rate.