Steel plate prices in the Chinese domestic market have continued their rising trend in the past seven days, indicating a bigger rise than in the previous week. Amid price increases for other steel products, traders dealing with steel plates have become more confident on the future prospects for the domestic plate market.
However, transaction activity is poor after the recent price rises. In addition, inventories of steel plate in the domestic market have increased over the past four weeks and so supply pressure is gradually accumulating.
Overall, while it is unlikely that Chinese domestic steel plate prices will continue their upward trend in the coming period, they are not expected to move down suddenly either.