During the week ending June 23, steel plate prices in the Chinese domestic market have indicated downward movement, while transaction activity has remained at poor levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
During the given week, plate traders in the Chinese domestic market have been downbeat on the market's prospects amid the downtrends in the steel futures market and in raw material prices. In addition, weakened demand has caused traders to lower their sales prices. With the traditional off-season for business continuing, demand from downstream industries is unlikely to see any improvement, while no contraction has been witnessed on the supply side. Furthermore, some steelmakers have lowered their ex-works prices, weakening the support for steel plate prices in the local market to some extent. It is expected that steel plate prices in the Chinese domestic market will continue their declining trend in the coming week.