The steel plate prices are expected to become stable in Chinese market after the spot iron ore prices ended the continuous dip.
It's known that Chinese steel mills have had the annual maintenance recently, aiming to reduce the production in order to cease the continuous price drop.
Besides, the spot iron ore prices, which continued decreasing since the beginning of September, stopped dropping and increased slightly by US$1/ton to US$128~US$131/ton C&F yesterday.
It's said that though the Chinese steel mills cut the quotes of steel plate by around US$10/ton for November, industry sources predicted that the steel plate prices may not dip further in the short term due to mills' reduced production and stable spot iron ore prices