As of April 22, the Chinese domestic steel plate market has indicated minor declines compared to one week ago. Average steel plate prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Against the background of sharp declines in the steel futures market, traders have become more pessimistic and have reduced their steel plate offer prices, while transaction activity has remained slow. Steel plate inventory in the domestic market has continued to decline as not so many new materials have been arriving in the market. However, the ongoing sluggishness of demand from downstream users has dampened market participants' confidence as regards the prospects for the market in the coming period.
It is thought that steel plates prices in the Chinese domestic market will likely move down further in the short term, though by a limited margin due to support from the cost side.