Local Chinese domestic steel plate market continues to trend down

During the week ending May 30, average steel plate prices in the Chinese domestic market have continued their downward trend, while transaction activity in the overall market has been at low levels. Average steel plate prices in China are presented in the tables below.
 
During the given week, since domestic steel plate prices have continued their downward movement, buyers from downstream industries have been unwilling to conclude purchases and are mostly maintaining a wait-and-see stance. Most users are only making purchases to meet their immediate production needs. Currently, orders received by steelmakers from traders or end-users are on the low side and so steelmakers will likely lower their prices further in order to attract business. It is thought that steel plate prices in the Chinese domestic market will move down in the coming week.