Stable energy sector demand likely to support Southeast Asian plate prices, Japanese steelmaker says

摘要

Southeast Asian steel plate prices are likely to hold steady despite the novel coronavirus (2019-nCoV) outbreak, due to largely stable demand from the energy sector, a source at a major Japanese mill told Fastmarkets. With the gradual resumption of business operations in China, the source was optimistic that steel inventories in the country would be reduced, thereby alleviating pressure on spot prices. “Chinese mills had also reduced their production rates due to transportation problems faced in the procurement of raw materials,” the source said.