During the week ending September 9, steel plate prices in the Chinese domestic market have continued to move downward. Average steel plate prices in China can be viewed in the SteelOrbis price reports section.
In the past week, the local steel plate market in China has seen a less-than-satisfactory performance. Mills' reductions of their steel plate prices coupled with the lack of a recovery in downstream demand have damaged traders' confidence.
In spite of the more rapid downtrend of prices in the past week as compared with the previous week, not all traders are totally pessimistic on the future prospects for the market. It is expected that Chinese domestic steel plate prices will mainly trend sideways in the coming period, while traders are expected to adopt a wait-and-see stance.