During the week ending January 21, steel plate prices in the Chinese domestic market have shown an uneven trend, with some specificiations seeing small rises, some indicating slight drops and others remaining unchanged. Average steel plate prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Following previous significant rises, downstream demand in China for steel plate has gradually slackened, with a reduction seen in transaction volumes. In addition, downward corrections in raw material prices and the bearish steel futures market has meant that there has been less support for domestic steel plate prices over the past week.
Currently, some domestic steel plate offer prices are negotiable amid current adequate profit margins and worries over possible increases on the supply side in the future. However, the inventory volume in the market is relatively low and steelmakers are increasing their ex-works prices, thereby providing a certain degree of support for local steel plate prices. It is expected that the Chinese domestic plate market will move sideways in the coming week.