Influenced by slight improvements in steel futures prices, some steel plate traders even increased their offers by a small margin. However, in view of current low delivery volumes, discounts are given in actual transactions. There are many low-priced supplies available in China's steel plate market at present.
Traders state that the recent decrease in market prices has intensified the wait-and-see stance among downstream buyers. If market prices start to indicate greater stability, then demand is likely to improve. However, domestic steel mills have generally continued to operate at high capacity utilization rates. Nevertheless, some steel plate producers have started to conduct maintenance work, and this may provide some support for the market.
Summing up, it is expected that the Chinese steel plate market will continue to fluctuate in a slight downward direction in the coming seven days.