In the week ending February 2, steel plate prices in the Chinese domestic market have decreased by smaller margins compared to the previous week, while transaction activity in the market has generally been at low levels. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
After the sharp price declines previously seen, the costs for traders of buying in new steel plate products exceed market price levels, with this situation making life difficult for both traders and steel mills. With the consumption of low-priced materials, some regions have seen shortages of certain products. At the same time, some regions which had witnessed large reductions in prices previously have seen greater stability of prices in the past week. Demand is unlikely to indicate a significant improvement due to the approach of the Spring Festival holiday (February 18-24) and so market participants are cautious on the future prospects for the market. It is thought that steel plate prices in the Chinese domestic market will likely fluctuate within a narrow range in the coming week.