China’s ship plate market remains soft as prices continue to fall.

Therefore, most traders reduced their spot price by RMB150~300/ton. According to a specialist, up to the end of September, price of Baosteel and Xinyu’s CCSB shipping plate was quoted at RMB6,450/ton, down by RMB150/ton from last week.

Due to the weak demand and increasing inventory, ship plate market in near future will be facing great pressure. It is predicted that the total demand of ship plate in China during 2008 and 2010 will be 41.52 million tons.