During the week ending July 15, steel plate prices in the Chinese domestic market have been moving upward. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
Steel plate traders in China have been optimistic on the prospects for the domestic market. The upticks in iron ore prices as well as price hikes by steel mills have both helped to push up domestic plate prices. Recently, there have been few new arrivals in the market, resulting in low inventories for traders. As a result, some traders began to raise their offers. However, as downstream demand is still weak, the upward movement of local plate prices in China is expected to be limited in the coming period.