During the week ending June 3, steel plate prices in the Chinese domestic market have continued to drop down. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
Amid the significant decrease observed in the domestic steel futures market as well as the continuous declines in prices of rebar and hot rolled coil (HRC) products, steel plate traders are now less confident on the prospects for the domestic market and are willing to sell off materials at lower prices. So far, downstream demand has shown no signs of recovery. With raw material costs trending down, ex-mill prices of steel plate products have undergone further downward corrections. Summing up, Chinese domestic steel plate prices are not likely to improve in the short term.